Investing.com - The New Zealand dollar was higher against its U.S. counterpart on Thursday, after positive New Zealand business confidence data while markets eyed Friday’s key meeting of euro zone finance ministers on the size of the bailout fund for indebted countries.
NZD/USD hit 0.8194 during late Asian trade, the daily high; the pair subsequently consolidated at 0.8183, rising 0.19%.
The pair was likely to find support at 0.8774, the low of March 7 and resistance at 0.8236, the high of March 26.
The kiwi found support after the National Bank of New Zealand said earlier that its index of business confidence rose to 33.8 in March from 28.0 the previous month.
A reading above 0.0 indicates optimism, below indicates pessimism.
Meanwhile, euro zone ministers were expected to decide at a meeting in Copenhagen on Friday to run the EUR500 billion permanent European Stability Mechanism alongside the EUR200 billion committed by the temporary fund, the European Financial Stability Facility.
Earlier in the week, German Chancellor Angela Merkel bowed to pressure to support an enlarged firewall, following calls from the International Monetary Fund to bolster the region’s bailout capacity amid mounting concerns over Portugal and Spain.
The kiwi was also higher against the euro with EUR/NZD slipping 0.10%, to hit 1.6284.
Later Thursday, the U.S. was to publish government data on unemployment claims and final data on fourth quarter gross domestic product. Federal Reserve Chairman Ben Bernanke was also due to speak.
NZD/USD hit 0.8194 during late Asian trade, the daily high; the pair subsequently consolidated at 0.8183, rising 0.19%.
The pair was likely to find support at 0.8774, the low of March 7 and resistance at 0.8236, the high of March 26.
The kiwi found support after the National Bank of New Zealand said earlier that its index of business confidence rose to 33.8 in March from 28.0 the previous month.
A reading above 0.0 indicates optimism, below indicates pessimism.
Meanwhile, euro zone ministers were expected to decide at a meeting in Copenhagen on Friday to run the EUR500 billion permanent European Stability Mechanism alongside the EUR200 billion committed by the temporary fund, the European Financial Stability Facility.
Earlier in the week, German Chancellor Angela Merkel bowed to pressure to support an enlarged firewall, following calls from the International Monetary Fund to bolster the region’s bailout capacity amid mounting concerns over Portugal and Spain.
The kiwi was also higher against the euro with EUR/NZD slipping 0.10%, to hit 1.6284.
Later Thursday, the U.S. was to publish government data on unemployment claims and final data on fourth quarter gross domestic product. Federal Reserve Chairman Ben Bernanke was also due to speak.