Investing.com – New Zealand’s dollar was down against its U.S. counterpart on Monday, falling to hit a 4-day low after shrugging off better-than-expected domestic data on consumer price inflation.
NZD/USD hit 0.7500 during European afternoon trade, the pair’s lowest since October 12; the pair subsequently consolidated at 0.7526, shedding 0.44%.
The pair was likely to find support at 0.7426, the low of October 8 and resistance at 0.7642, last Thursday’s high and a 27-month high.
On Sunday, official data showed that New Zealand’s CPI rose more-than-expected in the third quarter.
In a report, Statistics New Zealand said that CPI rose 1.1% in Q3 after rising by a revised 0.2% in Q2. Analysts had expected CPI to rise 1.0% in Q3. Year-on-year CPI rose 1.5% in Q3, after rising 1.8% in Q2.
The report said that food prices rose 2.4% in Q3, while alcohol and tobacco prices rose 2.3%.
Meanwhile, the kiwi was up against the euro, with EUR/NZD shedding 0.18% to hit 1.8452.
Later in the day, the U.S. was to release official data on TIC long term purchases as well as data on the capacity utilization rate and industrial production.
NZD/USD hit 0.7500 during European afternoon trade, the pair’s lowest since October 12; the pair subsequently consolidated at 0.7526, shedding 0.44%.
The pair was likely to find support at 0.7426, the low of October 8 and resistance at 0.7642, last Thursday’s high and a 27-month high.
On Sunday, official data showed that New Zealand’s CPI rose more-than-expected in the third quarter.
In a report, Statistics New Zealand said that CPI rose 1.1% in Q3 after rising by a revised 0.2% in Q2. Analysts had expected CPI to rise 1.0% in Q3. Year-on-year CPI rose 1.5% in Q3, after rising 1.8% in Q2.
The report said that food prices rose 2.4% in Q3, while alcohol and tobacco prices rose 2.3%.
Meanwhile, the kiwi was up against the euro, with EUR/NZD shedding 0.18% to hit 1.8452.
Later in the day, the U.S. was to release official data on TIC long term purchases as well as data on the capacity utilization rate and industrial production.