Investing.com - The New Zealand dollar was higher against its U.S. counterpart on Tuesday, but the kiwi's gains were seen to remain limited as investors remained cautious ahead of the release of U.S. economic growth data later in the week.
NZD/USD hit 0.8374 during late Asian trade, the pair's highest since January 25; the pair subsequently consolidated at 0.8367, adding 0.32%.
The pair was likely to find support at 0.8319, the low of December 20 and resistance at 0.8394, the high of January 25.
Market sentiment remained supported by signs that the euro zone's sovereign debt crisis has turned a corner.
On Friday, the European Central Bank said that European banks are to repay three-year emergency loans early, indicating that liquidity pressures in the region have eased.
But overall market sentiment remained cautious ahead of a number of significant U.S. economic events later in the week, including data on fourth quarter growth and the Federal Reserve’s monetary policy statement on Wednesday, as well as Friday’s U.S. nonfarm payrolls data.
The kiwi was steady against the Australian dollar with AUD/NZD inching up 0.04%, to hit 1.2492.
Also Tuesday, the National Bank of Australia said that its index of business confidence improved to 3 in December from a reading of minus 9 the previous month.
In a separate report, the Conference Board said that its leading index for Australia lost 0.2% in November, after a 0.2% rise the previous month.
Later in the day, the U.S. was to release reports on house price inflation and consumer confidence.
NZD/USD hit 0.8374 during late Asian trade, the pair's highest since January 25; the pair subsequently consolidated at 0.8367, adding 0.32%.
The pair was likely to find support at 0.8319, the low of December 20 and resistance at 0.8394, the high of January 25.
Market sentiment remained supported by signs that the euro zone's sovereign debt crisis has turned a corner.
On Friday, the European Central Bank said that European banks are to repay three-year emergency loans early, indicating that liquidity pressures in the region have eased.
But overall market sentiment remained cautious ahead of a number of significant U.S. economic events later in the week, including data on fourth quarter growth and the Federal Reserve’s monetary policy statement on Wednesday, as well as Friday’s U.S. nonfarm payrolls data.
The kiwi was steady against the Australian dollar with AUD/NZD inching up 0.04%, to hit 1.2492.
Also Tuesday, the National Bank of Australia said that its index of business confidence improved to 3 in December from a reading of minus 9 the previous month.
In a separate report, the Conference Board said that its leading index for Australia lost 0.2% in November, after a 0.2% rise the previous month.
Later in the day, the U.S. was to release reports on house price inflation and consumer confidence.