Investing.com - The New Zealand dollar was trading near 11-month lows against its U.S. counterpart on Thursday, although demand for the greenback remained under pressure amid uncertainty over the future of the Federal Reserve's stimulus program.
NZD/USD hit 0.7904 during late Asian trade, the pair's lowest since July 26; the pair subsequently consolidated at 0.7943, retreating 0.33%.
The pair was likely to find support at 0.7893, the low of July 26 and resistance at 0.7986, the session high.
The greenback remained under pressure after data on Wednesday showing that the U.S. private sector added far fewer-than-expected jobs in May dampened expectations that the Federal Reserve would start to unwind its asset purchase program this year.
The data came after payroll processor ADP said U.S. non-farm private employment rose by a seasonally adjusted 135,000 last month, below expectations for an increase of 165,000.
The data is sometimes seen as an indicator of Friday’s closely watched government report on nonfarm payrolls.
The kiwi was higher against the Australian dollar with AUD/NZD shedding 0.29%, to hit 1.1937.
Also Thursday, official data showed that Australia's trade surplus narrowed far more-than-expected in April, falling to AUD0.03 billion from a surplus of AUD0.56 billion the previous month.
Analysts had expected the trade surplus to narrow to 0.22 billion in April.
Later in the day, the U.S. was to release the weekly report on initial jobless claims.
NZD/USD hit 0.7904 during late Asian trade, the pair's lowest since July 26; the pair subsequently consolidated at 0.7943, retreating 0.33%.
The pair was likely to find support at 0.7893, the low of July 26 and resistance at 0.7986, the session high.
The greenback remained under pressure after data on Wednesday showing that the U.S. private sector added far fewer-than-expected jobs in May dampened expectations that the Federal Reserve would start to unwind its asset purchase program this year.
The data came after payroll processor ADP said U.S. non-farm private employment rose by a seasonally adjusted 135,000 last month, below expectations for an increase of 165,000.
The data is sometimes seen as an indicator of Friday’s closely watched government report on nonfarm payrolls.
The kiwi was higher against the Australian dollar with AUD/NZD shedding 0.29%, to hit 1.1937.
Also Thursday, official data showed that Australia's trade surplus narrowed far more-than-expected in April, falling to AUD0.03 billion from a surplus of AUD0.56 billion the previous month.
Analysts had expected the trade surplus to narrow to 0.22 billion in April.
Later in the day, the U.S. was to release the weekly report on initial jobless claims.