Investing.com - The New Zealand dollar was lower against its U.S. counterpart on Tuesday, as demand for the greenback regained ground after Monday's donwbeat U.S. service sector data.
NZD/USD hit 0.8254 during late Asian trade, the session low; the pair subsequently consolidated at 0.8267, shedding 0.30%.
The pair was likely to find support at 0.8179, the low of January 3 and resistance at 0.8334, the high of December 10.
The dollar weakened Monday after the Institute of Supply Management said its non-manufacturing purchasing manager's index declined to 53.0 in December from 53.9 in November. Analysts had expected the index to increase to 54.5.
The ISM said the new orders index contracted for the first time since July 2009, falling to 49.4.
Investors were eyeing Wednesday’s minutes of the Federal Reserve’s December meeting and Friday’s U.S. jobs report for December for further indications on the possible timing of reductions in Fed stimulus.
The kiwi was higher against the Australian dollar, with AUD/NZD edging down 0.19% to 1.0794.
Also Tuesday, official data showed that Australia's trade deficit narrowed to AUD0.12 billion in November, from AUD0.36 billion in October. Analysts had expected the trade deficit to narrow to AUD0.30 billion in November.
Later in the day, the U.S. was to publish a report on the trade balance.
NZD/USD hit 0.8254 during late Asian trade, the session low; the pair subsequently consolidated at 0.8267, shedding 0.30%.
The pair was likely to find support at 0.8179, the low of January 3 and resistance at 0.8334, the high of December 10.
The dollar weakened Monday after the Institute of Supply Management said its non-manufacturing purchasing manager's index declined to 53.0 in December from 53.9 in November. Analysts had expected the index to increase to 54.5.
The ISM said the new orders index contracted for the first time since July 2009, falling to 49.4.
Investors were eyeing Wednesday’s minutes of the Federal Reserve’s December meeting and Friday’s U.S. jobs report for December for further indications on the possible timing of reductions in Fed stimulus.
The kiwi was higher against the Australian dollar, with AUD/NZD edging down 0.19% to 1.0794.
Also Tuesday, official data showed that Australia's trade deficit narrowed to AUD0.12 billion in November, from AUD0.36 billion in October. Analysts had expected the trade deficit to narrow to AUD0.30 billion in November.
Later in the day, the U.S. was to publish a report on the trade balance.