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Forex - NZD/USD lower amid U.S. recovery hopes

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Investing.com - The New Zealand dollar was lower against its U.S. counterpart on Tuesday, as signs of a strong economic recovery in the U.S. continued to support demad for the greenback.

NZD/USD hit 0.8242 during late Asian trade, the session low; the pair subsequently consolidated at 0.8246, dropping 0.42%.

The pair was likely to find support at 0.8216, the low of March 1 and resistance at 0.8294, the high of March 8.

The greenback remained supported after data on Friday showed that the U.S. economy added significantly more jobs than forecast in February, with the unemployment rate falling to a four-year low of 7.7%.

The robust data fuelled speculation over an earlier-than-expected end to the Federal Reserve's easing program.

In New Zealand, industry data earlier showed that house price inflation rose 1.6% in February, after a 1% decline the previous month.

The kiwi was lower against the Australian dollar with AUD/NZD climbing 0.42%, to hit 1.2469.

Also Tuesday, the National Bank of Australia said its index of business confidence fell to 1 in February from a reading of 3 the previous month.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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