Investing.com - The New Zealand dollar climbed against its U.S. counterpart on Monday, as the release of upbeat Chinese manufacturing data lent support to export-related currencies.
NZD/USD hit 0.8224 during late Asian trade, the pair's highest since November 26; the pair subsequently consolidated at 0.8210, rallying 0.95%.
The pair was likely to find support at 0.8116, the low of November 27 and a two-month low and resistance at 0.8302, the high of November 13.
A report earlier showed that China’s final HSBC Purchasing Managers Index inched up to 50.8 in November, up from a preliminary reading 50.4 and above expectations for a reading of 50.5.
The data was published one day after a government report showed that China’s manufacturing PMI held steady at an 18-month high of 51.4 in November, compared to forecasts for a decline to 51.1.
China is New Zealand's second biggest export partner.
The kiwi was higher against the Australian dollar with AUD/NZD declining 0.44%, to hit 1.1149.
Also Monday, official data showed that building approvals in Australia declined 1.8% in October, less than the expected 5% drop, after an upwardly revised 16.9% increase the previous month.
A separate report showed that company operating profits in Australia rose 3.9% in the third quarter, beating expectations for a 1% increase, after an uwardly revised 0.4% rise in the three months to June.
Later in the day, Federal Reserve Chairman Ben Bernanke was to speak at an event in Washington, while the Institute of Supply Management is to release its manufacturing PMI.
NZD/USD hit 0.8224 during late Asian trade, the pair's highest since November 26; the pair subsequently consolidated at 0.8210, rallying 0.95%.
The pair was likely to find support at 0.8116, the low of November 27 and a two-month low and resistance at 0.8302, the high of November 13.
A report earlier showed that China’s final HSBC Purchasing Managers Index inched up to 50.8 in November, up from a preliminary reading 50.4 and above expectations for a reading of 50.5.
The data was published one day after a government report showed that China’s manufacturing PMI held steady at an 18-month high of 51.4 in November, compared to forecasts for a decline to 51.1.
China is New Zealand's second biggest export partner.
The kiwi was higher against the Australian dollar with AUD/NZD declining 0.44%, to hit 1.1149.
Also Monday, official data showed that building approvals in Australia declined 1.8% in October, less than the expected 5% drop, after an upwardly revised 16.9% increase the previous month.
A separate report showed that company operating profits in Australia rose 3.9% in the third quarter, beating expectations for a 1% increase, after an uwardly revised 0.4% rise in the three months to June.
Later in the day, Federal Reserve Chairman Ben Bernanke was to speak at an event in Washington, while the Institute of Supply Management is to release its manufacturing PMI.