Investing.com – The New Zealand dollar fell to a daily low against its U.S. counterpart on Tuesday, after official data showed that Chinese consumer prices rose less-than-expected in January.
NZD/USD hit 0.7546 during late Asian trade, the daily low; the pair subsequently consolidated at 0.7554, slipping 0.15%.
The pair was likely to find support at 0.7489, the low of December 28 and resistance at 0.764, Friday’s high.
Earlier in the day, China’s statistics bureau said consumer prices rose 4.9% last month from a year earlier, compared with a 4.6% gain in December, disappointing expectations for a 5.4% increase. China is New Zealand’s second biggest export market.
The kiwi was also down against the euro, with EUR/NZD easing up 0.05% to hit 1.7829.
Later in the day, the U.S. was to publish government data on retail sales as well as a report on manufacturing activity in New York.
NZD/USD hit 0.7546 during late Asian trade, the daily low; the pair subsequently consolidated at 0.7554, slipping 0.15%.
The pair was likely to find support at 0.7489, the low of December 28 and resistance at 0.764, Friday’s high.
Earlier in the day, China’s statistics bureau said consumer prices rose 4.9% last month from a year earlier, compared with a 4.6% gain in December, disappointing expectations for a 5.4% increase. China is New Zealand’s second biggest export market.
The kiwi was also down against the euro, with EUR/NZD easing up 0.05% to hit 1.7829.
Later in the day, the U.S. was to publish government data on retail sales as well as a report on manufacturing activity in New York.