Investing.com - The New Zealand dollar climbed to an almost two-week high against its U.S. counterpart on Thursday, as downbeat U.S. data on Wednesday pressured demand for the greenback, but gains were limited by ongoing euro zone concerns.
NZD/USD hit 0.8542 during late Asian trade, the pair's highest since April 15; the pair subsequently consolidated at 0.8534, gaining 0.68%.
The pair was likely to find support at 0.8466, the session low and resistance at 0.8578, the high of April 15.
The greenback weakened after official data on Wednesday showed that U.S. durable goods orders dropped 5.7% in March, much worse than expectations for a decline of 2.8%.
Core durable goods orders, which exclude transportation items, fell 1.4%, compared to expectations for a 0.5% increase.
Meanwhile, sentiment remained fragile after disappointing German economic data earlier in the week sparked concerns over the outlook for the euro zone’s largest economy and fuelled expectations over a possible rate cut by the European Central Bank.
The kiwi was higher against the Australian dollar with AUD/NZD shedding 0.40%, to hit 1.2087.
Later in the day, the U.S. was to produce the weekly government report on initial jobless claims.
NZD/USD hit 0.8542 during late Asian trade, the pair's highest since April 15; the pair subsequently consolidated at 0.8534, gaining 0.68%.
The pair was likely to find support at 0.8466, the session low and resistance at 0.8578, the high of April 15.
The greenback weakened after official data on Wednesday showed that U.S. durable goods orders dropped 5.7% in March, much worse than expectations for a decline of 2.8%.
Core durable goods orders, which exclude transportation items, fell 1.4%, compared to expectations for a 0.5% increase.
Meanwhile, sentiment remained fragile after disappointing German economic data earlier in the week sparked concerns over the outlook for the euro zone’s largest economy and fuelled expectations over a possible rate cut by the European Central Bank.
The kiwi was higher against the Australian dollar with AUD/NZD shedding 0.40%, to hit 1.2087.
Later in the day, the U.S. was to produce the weekly government report on initial jobless claims.