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Forex - NZD/USD slips lower in cautious trade

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Investing.com - The New Zealand dollar slipped lower against its U.S. counterpart on Wednesday, as markets were jittery ahead of the minutes of the Federal Reserve's latest policy-setting meeting.

NZD/USD hit 0.8266 during late Asian trade, the session low; the pair subsequently consolidated at 0.8275, edging down 0.10%.

The pair was likely to find support at 0.8204, the low of December 13 and resistance at 0.8378, the high of November 20.

The greenback strengthened after data on Tuesday showed that the U.S. trade deficit shrank to the lowest level in four years in November as exports rose to a record high.

But investors remained focused on the minutes of the Fed's December meeting, due for release later Wednesday, for indications on the possible timing of further reductions in the bank's stimulus program.

Market participants were also eyeing Friday's U.S. nonfarm report for December for indications of the strength of the recovery in the labor market.

The kiwi was steady against the Australian dollar, with AUD/NZD easing 0.04% to 1.0773.

Later in the day, the U.S. was to release the ADP report on private sector job creation, while New Zealand was to publish data on building consents.

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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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