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Forex - NZD/USD steady, eyes on RBNZ statement

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Investing.com - The New Zealand dollar was steady against its U.S. counterpart on Thursday, as markets were jittery ahead of the Reserve Bank of New Zealand's rate statement later in the day, while hopes for a strong economic recovery in the U.S. continued to support the greenback.

NZD/USD hit 0.8273 during late Asian trade, the session high; the pair subsequently consolidated at 0.8272, edging up 0.05%.

The pair was likely to find support at 0.8232, Tuesday's low and resistance at 0.8294, the high of March 8.

The greenback continued to be supported by hopes that the U.S. economic recovery is gaining momentum after the release of strong employment data last week.

But markets were jittery ahead of an auction of three-year and 15-year Italian government bonds later Wednesday, in an important test of investor appetite for the country's debt.

The kiwi was fractionally lower against the Australian dollar with AUD/NZD easing up 0.07%, to hit 1.2492.

Also Wednesday, the Westpac Banking Corporation said consumer sentiment in Australia rose 2% in March, after a 7.7% increase the previous month.

A separate report showed that home loans in Australia fell unexpectedly in January, sliding 1.5% after a 2.1% decline the previous month. Analysts had expected home loans to tise 0.6% in January.

Later in the day, the U.S. was to release government data on retail sales, as well as official data on import prices, business inventories and crude oil stockpiles.

In addition, the RBNZ was to announce its benchmark interest rate.

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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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