Investing.com - The New Zealand dollar was almost unchanged against its U.S. counterpart on Thursday, as upbeat Chinese manufacturing data supported the kiwi, although markets were jittery following the minutes of the Federal Reserve's latest policy meeting.
NZD/USD hit 0.7812 during late Asian trade, the pair's lowest since August 5; the pair subsequently consolidated at 0.7843, easing 0.04%.
The pair was likely to find support at 0.7737, the low of August 5 and resistance at 0.7918, the high of August 6.
Data showed that the preliminary reading of China’s HSBC manufacturing purchasing managers’ index rose to a four-month high of 50.1 in August, up from 47.7 in July. Economists had forecast a reading of 48.3.
China is New Zealand's second biggest export partner.
In the U.S., the minutes of the Fed's July meeting showed that officials were "broadly comfortable" with plans to scale back the bank’s USD85 billion-a-month stimulus program.
However, policymakers remain divided over the timing of possible tapering, with almost all committee members agreeing that a change in the purchase program was not yet appropriate.
The kiwi was lower against the Australian dollar with AUD/NZD edging up 0.25%, to hit 1.1468.
Also Thursday, the Conference Board said that its leading index for Australia fell 0.2% June, after a flat reading the previous month.
Later in the day, the U.S. was to publish a report on initial jobless claims.
NZD/USD hit 0.7812 during late Asian trade, the pair's lowest since August 5; the pair subsequently consolidated at 0.7843, easing 0.04%.
The pair was likely to find support at 0.7737, the low of August 5 and resistance at 0.7918, the high of August 6.
Data showed that the preliminary reading of China’s HSBC manufacturing purchasing managers’ index rose to a four-month high of 50.1 in August, up from 47.7 in July. Economists had forecast a reading of 48.3.
China is New Zealand's second biggest export partner.
In the U.S., the minutes of the Fed's July meeting showed that officials were "broadly comfortable" with plans to scale back the bank’s USD85 billion-a-month stimulus program.
However, policymakers remain divided over the timing of possible tapering, with almost all committee members agreeing that a change in the purchase program was not yet appropriate.
The kiwi was lower against the Australian dollar with AUD/NZD edging up 0.25%, to hit 1.1468.
Also Thursday, the Conference Board said that its leading index for Australia fell 0.2% June, after a flat reading the previous month.
Later in the day, the U.S. was to publish a report on initial jobless claims.