Investing.com - The New Zealand dollar rose to a two-week high against its U.S. counterpart on Thursday, tracking gains in the Australian dollar as investor sentiment firmed up.
NZD/USD hit 0.8020 during late Asian trade, the pair’s highest since July 6; the pair subsequently consolidated at 0.8016, gaining 0.15%.
The pair was likely to find support at 0.7923, Wednesday’s low and near-term resistance at 0.8046, the high of July 6.
The Australian dollar hit an 11-week high against the U.S. dollar on Thursday, pushed higher by stronger-than-expected corporate earnings and rising commodity prices.
Meanwhile, investors mulled over a second day of testimony on the economy and monetary policy by Federal Reserve Chairman Ben Bernanke on Wednesday, who offered a downbeat view of the U.S. economic outlook, but failed to explicitly indicate if additional stimulus measures are imminent.
The kiwi was slightly lower against its Australian cousin, with AUD/NZD up 0.14% to 1.2968 and was hovering close to a record high against the euro, with EUR/NZD dipping 0.02% to 1.5341.
The euro came under pressure after German Chancellor Angela Merkel said Wednesday that she was not certain the European project would be successful, before adding that she was optimistic in spite of the current difficulties.
Later Thursday, the U.S. was to publish government data on initial jobless claims, as well as reports on existing home sales and manufacturing activity in Philadelphia.
NZD/USD hit 0.8020 during late Asian trade, the pair’s highest since July 6; the pair subsequently consolidated at 0.8016, gaining 0.15%.
The pair was likely to find support at 0.7923, Wednesday’s low and near-term resistance at 0.8046, the high of July 6.
The Australian dollar hit an 11-week high against the U.S. dollar on Thursday, pushed higher by stronger-than-expected corporate earnings and rising commodity prices.
Meanwhile, investors mulled over a second day of testimony on the economy and monetary policy by Federal Reserve Chairman Ben Bernanke on Wednesday, who offered a downbeat view of the U.S. economic outlook, but failed to explicitly indicate if additional stimulus measures are imminent.
The kiwi was slightly lower against its Australian cousin, with AUD/NZD up 0.14% to 1.2968 and was hovering close to a record high against the euro, with EUR/NZD dipping 0.02% to 1.5341.
The euro came under pressure after German Chancellor Angela Merkel said Wednesday that she was not certain the European project would be successful, before adding that she was optimistic in spite of the current difficulties.
Later Thursday, the U.S. was to publish government data on initial jobless claims, as well as reports on existing home sales and manufacturing activity in Philadelphia.