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Forex - NZD/USD hits 2-week highs, eyes on U.S. data

Published 10/01/2015, 02:45 AM
Kiwi rises against greenback after positive China PMI
NZD/USD
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AUD/NZD
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Investing.com - The New Zealand dollar edged up to two-week highs against its U.S. counterpart on Thursday, helped by the release of better-than-expected Chinese manufacturing data and as markets eyed upcoming U.S. economic reports.

NZD/USD hit 0.6429 during late Asian trade, the pair's highest since September 18; the pair subsequently consolidated at 0.6405, adding 0.13%.

The pair was likely to find support at 0.6287, Tuesday's low and resistance at 0.6459, the high of September 18.

Data earlier showed that China's manufacturing purchasing managers' index ticked up to 49.8 in September from 49.7 the previous month. Analysts had expected the index to slip to 49.6 last month.

China is New Zealand's second biggest export partner.

Meanwhile, investors eyed upcoming reports on U.S. jobless claims and manufacruring activity due later in the day, amid growing uncertainty over whether or not the Federal Reserve will raise interest rates before the end of the year.

The greenback strengthened after payroll processing firm ADP reported on Wednesday that U.S. non-farm private employment rose by 200,000 this month, above expectations for an increase of 194,000.

The kiwi was lower against the Australian dollar, with AUD/NZD advancing 0.43% to 1.1015.

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