Investing.com - The New Zealand dollar edged lower against its U.S. counterpart on Thursday, after the release of disappointing retail sales data from New Zealand, while speculation over the future of the Federal Reserve's stimulus program persisted.
NZD/USD hit 0.8270 during late Asian trade, the session low; the pair subsequently consolidated at 0.8266, slipping 0.28%.
The pair was likely to find support at 0.8170, the low of November 12 and a two-month low and resistance at 0.8396, the high of November 7.
Official data showed that New Zealand retail sales rose 0.3% in the third quarter, disappointing expectations for a 0.9% increase, after a downwardly revised 1.5% rise in the three months to June.
Core retail sales, which exclude automobiles and gas stations, ticked down 0.1% in the last quarter, compared to expectations for a 1.4% rise, after a downwardly revised 2.1% increase in the second quarter.
A separate report showed that New Zealand's Business Manufacturing Index rose to 55.7 in October, from a reading of 54.2 the previous month.
In the U.S., Federal Reserve Chairman nominee Janet Yellen said, in a statement released late Wednesday, that the job market and economy are "performing far short of their potential" and there is "more work to do" on recovery.
The kiwi was fractionally higher against the euro with EUR/NZD easing up 0.01%, to hit 1.6277.
Later in the day, the U.S. was release official data on the trade balance, as well as the weekly report on initial jobless claims.
NZD/USD hit 0.8270 during late Asian trade, the session low; the pair subsequently consolidated at 0.8266, slipping 0.28%.
The pair was likely to find support at 0.8170, the low of November 12 and a two-month low and resistance at 0.8396, the high of November 7.
Official data showed that New Zealand retail sales rose 0.3% in the third quarter, disappointing expectations for a 0.9% increase, after a downwardly revised 1.5% rise in the three months to June.
Core retail sales, which exclude automobiles and gas stations, ticked down 0.1% in the last quarter, compared to expectations for a 1.4% rise, after a downwardly revised 2.1% increase in the second quarter.
A separate report showed that New Zealand's Business Manufacturing Index rose to 55.7 in October, from a reading of 54.2 the previous month.
In the U.S., Federal Reserve Chairman nominee Janet Yellen said, in a statement released late Wednesday, that the job market and economy are "performing far short of their potential" and there is "more work to do" on recovery.
The kiwi was fractionally higher against the euro with EUR/NZD easing up 0.01%, to hit 1.6277.
Later in the day, the U.S. was release official data on the trade balance, as well as the weekly report on initial jobless claims.