Investing.com - The New Zealand dollar fell to eight-month lows against its U.S. counterpart on Thursday, after disappointing Chinese manufacturing data fuelled fresh concerns over the outlook for growth in the world's second economy.
NZD/USD hit 0.8012 during late Asian trade, the pair's lowest since September 7, 2012; the pair subsequently consolidated at 0.8021, declining 0.67%.
The pair was likely to find support at 0.7939, the low of September 6, 2012 and resistance at 0.8078, the session high.
The preliminary reading of China’s HSBC manufacturing purchasing managers' index fell to 49.6 in May, below the 50 level that separates contraction from growth down from a final reading of 50.4 in April.
China is New Zealand's second biggest export partner.
Meanwhile, the greenback remained supported after Federal Reserve Chairman Ben Bernanke said on Wednesday that a decision to scale back the central bank's asset purchase program could be taken in the "next few meetings" depending on economic data.
The kiwi was higher against the Australian dollar with AUD/NZD slipping 0.20%, to hit 1.1986.
Also Thursday, the Melbourne Institute said its inflation expectations for Australia rose to 2.3% in April, from 2.2% the previous month.
Later in the day, the U.S. was to release the weekly government report on initial jobless claims and official data on new home sales.
NZD/USD hit 0.8012 during late Asian trade, the pair's lowest since September 7, 2012; the pair subsequently consolidated at 0.8021, declining 0.67%.
The pair was likely to find support at 0.7939, the low of September 6, 2012 and resistance at 0.8078, the session high.
The preliminary reading of China’s HSBC manufacturing purchasing managers' index fell to 49.6 in May, below the 50 level that separates contraction from growth down from a final reading of 50.4 in April.
China is New Zealand's second biggest export partner.
Meanwhile, the greenback remained supported after Federal Reserve Chairman Ben Bernanke said on Wednesday that a decision to scale back the central bank's asset purchase program could be taken in the "next few meetings" depending on economic data.
The kiwi was higher against the Australian dollar with AUD/NZD slipping 0.20%, to hit 1.1986.
Also Thursday, the Melbourne Institute said its inflation expectations for Australia rose to 2.3% in April, from 2.2% the previous month.
Later in the day, the U.S. was to release the weekly government report on initial jobless claims and official data on new home sales.