Investing.com – New Zealand’s dollar extended early losses against its U.S. counterpart on Wednesday, falling to hit a fresh 7-week low following worse-than-expected U.S. manufacturing data.
NZD/USD hit 0.6948 during European afternoon trade, the pair's lowest since July 7; the pair subsequently consolidated at 0.6960, tumbling 0.91%.
The pair was likely to find support at 0.6885, the low of July 7, and resistance at 0.7079, Tuesday’s high.
Earlier in the day, the U.S. Census Bureau said core durable goods orders fell by a seasonally adjusted 3.8% in July, after rising 0.2% in June, whose figure was revised up from -0.6%.
Analysts had expected core durable goods orders to rise 0.5% in June.
The report also showed that durable goods orders, which include transportation items, rose less-than-expected in July.
Durable goods orders rose by a seasonally adjusted 0.3% in July, after falling 0.1% in June, whose figure was revised up from -0.1%.
Analysts had expected durable goods orders to rise 3.1% in July.
The kiwi was also down against the euro, with EUR/NZD gaining 1.10% to hit 1.8177.
Later in the day, the U.S. was to release data on new home sales.
NZD/USD hit 0.6948 during European afternoon trade, the pair's lowest since July 7; the pair subsequently consolidated at 0.6960, tumbling 0.91%.
The pair was likely to find support at 0.6885, the low of July 7, and resistance at 0.7079, Tuesday’s high.
Earlier in the day, the U.S. Census Bureau said core durable goods orders fell by a seasonally adjusted 3.8% in July, after rising 0.2% in June, whose figure was revised up from -0.6%.
Analysts had expected core durable goods orders to rise 0.5% in June.
The report also showed that durable goods orders, which include transportation items, rose less-than-expected in July.
Durable goods orders rose by a seasonally adjusted 0.3% in July, after falling 0.1% in June, whose figure was revised up from -0.1%.
Analysts had expected durable goods orders to rise 3.1% in July.
The kiwi was also down against the euro, with EUR/NZD gaining 1.10% to hit 1.8177.
Later in the day, the U.S. was to release data on new home sales.