Investing.com - The New Zealand dollar was almost unchanged against its U.S. counterpart on Wednesday, after the release of weak trade balance data out of China, while investors remained jittery ahead of the minutes of the Federal Reserve's most recent policy meeting.
NZD/USD hit 0.7878 during late Asian trade, the session high; the pair subsequently consolidated at 0.7860, easing up 0.06%.
The pair was likely to find support at 0.7763, Tuesday's low and resistance at 0.8024, the high of June 12.
Official data showed that Chinese exports fell unexpectedly in June from a year earlier, fuelling concerns over a slowdown in global demand. Imports were also lower on a year-over-year basis, indicating that domestic demand was weakening.
China is New Zealand's second biggest export partner.
Meanwhile, demand for the greenback remained supported by expectations that the Fed will start to unwind stimulus measures as the economy continues to pick up.
The kiwi was lower against the Australian dollar with AUD/NZD adding 0.10%, to hit 1.7103.
Also Wednesday, the Westpac Banking Corporation said consumer sentiment in Australia fell 0.05% in July, following a 4.70% increase the previous month.
The Fed was to release the minutes of its June policy meeting later in the day, while a speech by Fed Chairman Ben Bernanke was also in focus.
NZD/USD hit 0.7878 during late Asian trade, the session high; the pair subsequently consolidated at 0.7860, easing up 0.06%.
The pair was likely to find support at 0.7763, Tuesday's low and resistance at 0.8024, the high of June 12.
Official data showed that Chinese exports fell unexpectedly in June from a year earlier, fuelling concerns over a slowdown in global demand. Imports were also lower on a year-over-year basis, indicating that domestic demand was weakening.
China is New Zealand's second biggest export partner.
Meanwhile, demand for the greenback remained supported by expectations that the Fed will start to unwind stimulus measures as the economy continues to pick up.
The kiwi was lower against the Australian dollar with AUD/NZD adding 0.10%, to hit 1.7103.
Also Wednesday, the Westpac Banking Corporation said consumer sentiment in Australia fell 0.05% in July, following a 4.70% increase the previous month.
The Fed was to release the minutes of its June policy meeting later in the day, while a speech by Fed Chairman Ben Bernanke was also in focus.