Investing.com – The New Zealand dollar fell to a five-day low against its U.S. counterpart on Wednesday after the Federal Reserve indicated that the economic rebound seen in data in recent weeks should continue.
NZD/USD hit 0.7628 during early European trade, the pair’s lowest since December 29; the pair subsequently consolidated at 0.7642, shedding 0.28%.
The pair was likely to find support at 0.7534, the low of December 29 and resistance at 0.774, Tuesday’s high.
Late Tuesday, the minutes of the Fed’s December’s meeting showed that growth picked up since qualitative easing began but Fed policy makers said that improvements in the economy didn’t meet the threshold for scaling back their plans to purchase USD600 billion in bonds.
Also Tuesday, government data showed that orders to U.S. factories rose unexpectedly in November, climbing by a seasonally adjusted 0.7%, confounding forecasts for a 0.4% decline.
Meanwhile, the kiwi was up against the euro, with EUR/NZD slipping 0.19% to hit 1.7323.
Later in the day, the U.S. was to publish data on ADP non-farm payrolls and service sector growth.
NZD/USD hit 0.7628 during early European trade, the pair’s lowest since December 29; the pair subsequently consolidated at 0.7642, shedding 0.28%.
The pair was likely to find support at 0.7534, the low of December 29 and resistance at 0.774, Tuesday’s high.
Late Tuesday, the minutes of the Fed’s December’s meeting showed that growth picked up since qualitative easing began but Fed policy makers said that improvements in the economy didn’t meet the threshold for scaling back their plans to purchase USD600 billion in bonds.
Also Tuesday, government data showed that orders to U.S. factories rose unexpectedly in November, climbing by a seasonally adjusted 0.7%, confounding forecasts for a 0.4% decline.
Meanwhile, the kiwi was up against the euro, with EUR/NZD slipping 0.19% to hit 1.7323.
Later in the day, the U.S. was to publish data on ADP non-farm payrolls and service sector growth.