Investing.com - The New Zealand dollar was steady against its U.S. counterpart on Tuesday, trading near two-week highs amid new hopes of progress in Italy, although the release of disappointing economic data out of New Zealand limited the kiwi's gains.
NZD/USD hit 0.8570 during late Asian trade, the session high; the pair subsequently consolidated at 0.8568, inching up 0.03%.
The pair was likely to find support at 0.8516, the low of April 10 and resistance at 0.8643, the high of April 12.
Sentiment remained supported after Italy’s new government was sworn in over the weekend, ending two months of political uncertainty, with Prime Minister Enrico Letta pledging to lower taxes in order to spur growth.
In New Zealand, the ANZ business confidence index fell to 32.30 in April, from a reading of 34.60 the previous month.
A separate report showed that building consents in New Zealand dropped 9.1% in March, disappointing expectations for a 2.0% rise, after an increase of 4.4% the previous month.
Investors were also looking ahead to the outcome of the Federal Reserve’s policy meeting on Wednesday for further cues on the direction of monetary policy.
The kiwi was higher against the euro with EUR/NZD slipping 0.15%, to hit 1.5271.
Later in the day, the U.S. was to release data on consumer confidence, a report on manufacturing activity in Chicago and private sector data on house price inflation.
NZD/USD hit 0.8570 during late Asian trade, the session high; the pair subsequently consolidated at 0.8568, inching up 0.03%.
The pair was likely to find support at 0.8516, the low of April 10 and resistance at 0.8643, the high of April 12.
Sentiment remained supported after Italy’s new government was sworn in over the weekend, ending two months of political uncertainty, with Prime Minister Enrico Letta pledging to lower taxes in order to spur growth.
In New Zealand, the ANZ business confidence index fell to 32.30 in April, from a reading of 34.60 the previous month.
A separate report showed that building consents in New Zealand dropped 9.1% in March, disappointing expectations for a 2.0% rise, after an increase of 4.4% the previous month.
Investors were also looking ahead to the outcome of the Federal Reserve’s policy meeting on Wednesday for further cues on the direction of monetary policy.
The kiwi was higher against the euro with EUR/NZD slipping 0.15%, to hit 1.5271.
Later in the day, the U.S. was to release data on consumer confidence, a report on manufacturing activity in Chicago and private sector data on house price inflation.