Investing.com - The New Zealand dollar was almost unchanged against its U.S. counterpart on Wednesday, as market sentiment came under pressure after the World Bank cut its forecast for global growth in 2013.
NZD/USD hit 0.8430 during late Asian trade, the daily low; the pair subsequently consolidated at 0.8396, inching down 0.02%.
The pair was likely to find support at 0.8360, the low of January 14 and resistance at 0.8440, Tuesday's high.
On Tuesday, the World Bank sharply revised its 2013 outlook for the world economy to 2.4% from its last forecast of 3% in June, saying an unexpectedly sluggish recovery in developed countries was to blame for slow global growth.
Meanwhile, uncertainty over the U.S. debt ceiling deadlock continued to weigh after President Barack Obama urged Republicans earlier in the week to approve an increase in the borrowing limit without seeking policy concessions in return.
Elsewhere, the kiwi was steady against the Australian dollar with AUD/NZD easing 0.06%, to hit 1.2572.
Also Wednesday, the Westpac Banking Corporation said that consumer sentiment in Australia rose 0.6% in January, after a 4.1% decline the previous month.
A separate report showed that new motor vehicle sales in Australia rose 2.2% last month, after a 0.2% increase in November.
Later in the day, the U.S. was to produce government data on consumer inflation and a report on industrial production. In addition, the Federal Reserve was to publish its Beige Book.
NZD/USD hit 0.8430 during late Asian trade, the daily low; the pair subsequently consolidated at 0.8396, inching down 0.02%.
The pair was likely to find support at 0.8360, the low of January 14 and resistance at 0.8440, Tuesday's high.
On Tuesday, the World Bank sharply revised its 2013 outlook for the world economy to 2.4% from its last forecast of 3% in June, saying an unexpectedly sluggish recovery in developed countries was to blame for slow global growth.
Meanwhile, uncertainty over the U.S. debt ceiling deadlock continued to weigh after President Barack Obama urged Republicans earlier in the week to approve an increase in the borrowing limit without seeking policy concessions in return.
Elsewhere, the kiwi was steady against the Australian dollar with AUD/NZD easing 0.06%, to hit 1.2572.
Also Wednesday, the Westpac Banking Corporation said that consumer sentiment in Australia rose 0.6% in January, after a 4.1% decline the previous month.
A separate report showed that new motor vehicle sales in Australia rose 2.2% last month, after a 0.2% increase in November.
Later in the day, the U.S. was to produce government data on consumer inflation and a report on industrial production. In addition, the Federal Reserve was to publish its Beige Book.