Investing.com – The New Zealand dollar climbed to a four-day high against its U.S. counterpart on Tuesday, as hopes for a sustained global economic recovery boosted market sentiment.
NZD/USD hit 0.7775 during late Asian trade, the pair’s highest since February 2; the pair subsequently consolidated at 0.7769, soaring 0.93%.
The pair was likely to find support at 0.7677, Monday’s low and resistance at 0.7823, the high of February 2.
On Monday, New Zealand’s Prime Minister said that the country’s economic growth was “fairly anemic” over the past six months but “will be better” in 2011.
Elsewhere, Sydney based analysts BIS Shrapnel Pty, said that New Zealand’s construction industry was expected to improve this year, led by alterations and new home building. The value of home-building approvals was expected to rise by 5% in the first quarter.
The kiwi was also up against the euro, with EUR/NZD shedding 0.53% to hit 1.7543.
Later in the day, the U.S. was to publish the results of a survey on economic optimism.
NZD/USD hit 0.7775 during late Asian trade, the pair’s highest since February 2; the pair subsequently consolidated at 0.7769, soaring 0.93%.
The pair was likely to find support at 0.7677, Monday’s low and resistance at 0.7823, the high of February 2.
On Monday, New Zealand’s Prime Minister said that the country’s economic growth was “fairly anemic” over the past six months but “will be better” in 2011.
Elsewhere, Sydney based analysts BIS Shrapnel Pty, said that New Zealand’s construction industry was expected to improve this year, led by alterations and new home building. The value of home-building approvals was expected to rise by 5% in the first quarter.
The kiwi was also up against the euro, with EUR/NZD shedding 0.53% to hit 1.7543.
Later in the day, the U.S. was to publish the results of a survey on economic optimism.