Investing.com – The New Zealand dollar rose against its U.S. counterpart on Monday, after official data showed credit card spending in New Zealand rose in May.
NZD/USD hit 0.7062 during European morning trade, the pair subsequently consolidated at 0.7084, gaining 0.02%. The pair was likely to find short-term support at 0.7017, last Friday’s low, and resistance at 0.7222, the high of May 11.
Earlier Tuesday, official data showed that credit card spending in New Zealand rose a seasonally adjusted 3.4% in May, following an increase of 0.7% in April, whose figure was revised down from 1.9%.
Meanwhile, the kiwi was down against the yen, with NZD/JPY shedding 0.25% to hit 64.34.
Later in the day, the U.S. was to release key data on existing home sales, a leading indicator of economic health.
NZD/USD hit 0.7062 during European morning trade, the pair subsequently consolidated at 0.7084, gaining 0.02%. The pair was likely to find short-term support at 0.7017, last Friday’s low, and resistance at 0.7222, the high of May 11.
Earlier Tuesday, official data showed that credit card spending in New Zealand rose a seasonally adjusted 3.4% in May, following an increase of 0.7% in April, whose figure was revised down from 1.9%.
Meanwhile, the kiwi was down against the yen, with NZD/JPY shedding 0.25% to hit 64.34.
Later in the day, the U.S. was to release key data on existing home sales, a leading indicator of economic health.