Investing.com - The New Zealand dollar was lower against the U.S. dollar on Tuesday, after ratings agency Moody’s cut France’s credit rating, while investors anticipated a euro zone finance ministers' meeting later in the day.
NZD/USD hit 0.8171 during late Asian trade, the session low; the pair subsequently consolidated at 0.8173, down 0.32%.
The pair was likely to find support at 0.8119, Monday’s low and resistance at 0.8201, Monday’s high.
Risk appetite was hit after Moody’s downgraded France by one notch to Aa1 from Aaa with a negative outlook, citing a deteriorating growth outlook for the euro zone’s second-largest economy.
The announcement did not come as a major surprise to markets after Standard & Poor’s cut France’s rating in January.
Later Tuesday, the eurogroup of euro zone finance ministers was to hold talks in Brussels to discuss whether Greece can receive its next installment of bailout funds.
Elsewhere, the Reserve Bank of Australia indicated that it may cut interest rates further next month.
In the minutes of its November 6 policy meeting, the RBA said further easing may be “appropriate”.
The kiwi was lower against the Australian dollar, with AUD/NZD up 0.24% to 1.2725.
Later Tuesday, the U.S. was to publish official data on building permits and housing starts, while Federal Reserve Chairman Ben Bernanke was to speak at an event in New York.
NZD/USD hit 0.8171 during late Asian trade, the session low; the pair subsequently consolidated at 0.8173, down 0.32%.
The pair was likely to find support at 0.8119, Monday’s low and resistance at 0.8201, Monday’s high.
Risk appetite was hit after Moody’s downgraded France by one notch to Aa1 from Aaa with a negative outlook, citing a deteriorating growth outlook for the euro zone’s second-largest economy.
The announcement did not come as a major surprise to markets after Standard & Poor’s cut France’s rating in January.
Later Tuesday, the eurogroup of euro zone finance ministers was to hold talks in Brussels to discuss whether Greece can receive its next installment of bailout funds.
Elsewhere, the Reserve Bank of Australia indicated that it may cut interest rates further next month.
In the minutes of its November 6 policy meeting, the RBA said further easing may be “appropriate”.
The kiwi was lower against the Australian dollar, with AUD/NZD up 0.24% to 1.2725.
Later Tuesday, the U.S. was to publish official data on building permits and housing starts, while Federal Reserve Chairman Ben Bernanke was to speak at an event in New York.