Investing.com - The New Zealand dollar edged up to a three-week high against its U.S. counterpart on Thursday, boosted by positive New Zealand data, while hopes that a fiscal crisis could be averted in the U.S. supported market sentiment.
NZD/USD hit 0.8256 during European morning trade, the pair's highest since November 7; the pair subsequently consolidated at 0.8248, adding 0.13%.
The pair was likely to find support at 0.8195, Wednesday's low and resistance at 0.8292, the high of November 6.
The National Bank of New Zealand said that its index of business confidence improved to 26.4 in November from a reading of 17.2 the previous month.
Elsewhere, sentiment found support after U.S. House Speaker John Boehner, the top Republican in Congress, on Wednesday voiced optimism that Republicans could broker a deal with the White House to avert a fiscal crisis, while President Barack Obama said he hoped to reach an agreement with Congress before Christmas.
Investors fear the planned tax increases and spending cuts, due to start on January 1 and totalling about USD600 billion, could push the world's biggest economy into recession and weigh on the global economic outlook.
The kiwi was higher against the Australian dollar with AUD/NZD shedding 0.28%, to hit 1.2679.
Also Thursday, official data showed that private capital expenditure in Australia rose by 2.8% in the third quarter, more than the expected 2% rise, following a 3.4% increase in the previous quarter.
Separately, the Housing Industry Association said that new home sales in Australia rose by 3.4% in October, after a 3.7% drop the previous month.
Later in the day, the U.S. was to release preliminary data on third quarter growth as well as the weekly government report on jobless claims.
NZD/USD hit 0.8256 during European morning trade, the pair's highest since November 7; the pair subsequently consolidated at 0.8248, adding 0.13%.
The pair was likely to find support at 0.8195, Wednesday's low and resistance at 0.8292, the high of November 6.
The National Bank of New Zealand said that its index of business confidence improved to 26.4 in November from a reading of 17.2 the previous month.
Elsewhere, sentiment found support after U.S. House Speaker John Boehner, the top Republican in Congress, on Wednesday voiced optimism that Republicans could broker a deal with the White House to avert a fiscal crisis, while President Barack Obama said he hoped to reach an agreement with Congress before Christmas.
Investors fear the planned tax increases and spending cuts, due to start on January 1 and totalling about USD600 billion, could push the world's biggest economy into recession and weigh on the global economic outlook.
The kiwi was higher against the Australian dollar with AUD/NZD shedding 0.28%, to hit 1.2679.
Also Thursday, official data showed that private capital expenditure in Australia rose by 2.8% in the third quarter, more than the expected 2% rise, following a 3.4% increase in the previous quarter.
Separately, the Housing Industry Association said that new home sales in Australia rose by 3.4% in October, after a 3.7% drop the previous month.
Later in the day, the U.S. was to release preliminary data on third quarter growth as well as the weekly government report on jobless claims.