Investing.com - The New Zealand dollar dropped against its U.S. counterpart on Monday, to trade near 11-month lows as downbeat Chinese data weighed on risk sentiment, while the greenback remained broadly supported.
NZD/USD hit 0.7824 during late Asian trade, the pair's lowest since July 25; the pair subsequently consolidated at 0.7847, sliding 0.39%.
The pair was likely to find support at 0.7809, the low of July 25 and resistance at 0.8016, the high of June 7.
Official data showed on Sunday that China's consumer price inflation ticked down to an annualized rate of 2.1% last month, from 2.4% in April, confounding expectations for a rise to 2.5%.
A separate report showed that industrial production in China rose by an annualized rate of 9.2% in May, disappointing expectations for a 9.4% increase, after a 9.3% rise the previous month.
China is New Zealand's second biggest export partner.
Separately, the greenback strengthened after official data on Friday showed that the U.S. economy added 175,000 jobs last month, slightly more than the 170,000 gain forecast by economists.
The data indicated that the economic recovery in the U.S is on track but is not strong enough for the Federal Reserve to begin unwinding its USD85 billion-a-month asset purchase program.
The kiwi was higher against the Australian dollar with AUD/NZD shedding 0.41%, to hit 1.1997.
NZD/USD hit 0.7824 during late Asian trade, the pair's lowest since July 25; the pair subsequently consolidated at 0.7847, sliding 0.39%.
The pair was likely to find support at 0.7809, the low of July 25 and resistance at 0.8016, the high of June 7.
Official data showed on Sunday that China's consumer price inflation ticked down to an annualized rate of 2.1% last month, from 2.4% in April, confounding expectations for a rise to 2.5%.
A separate report showed that industrial production in China rose by an annualized rate of 9.2% in May, disappointing expectations for a 9.4% increase, after a 9.3% rise the previous month.
China is New Zealand's second biggest export partner.
Separately, the greenback strengthened after official data on Friday showed that the U.S. economy added 175,000 jobs last month, slightly more than the 170,000 gain forecast by economists.
The data indicated that the economic recovery in the U.S is on track but is not strong enough for the Federal Reserve to begin unwinding its USD85 billion-a-month asset purchase program.
The kiwi was higher against the Australian dollar with AUD/NZD shedding 0.41%, to hit 1.1997.