Investing.com - The New Zealand dollar was lower against its U.S. counterpart on Monday, as ongoing worries over global economic growth and the handling of the sovereign debt crisis in the euro zone dampened demand for riskier assets.
NZD/USD hit 0.7502 during late Asian trade, the daily low; the pair subsequently consolidated at 0.7524, falling 0.30%.
The pair was likely to find support at 0.7480, the low of May 24 and resistance at 0.7583, the high of May 25.
Market sentiment weakened after the U.S. Department of Labor said on Friday that the economy added just 69,000 jobs in May, far below expectations for a gain of 150,000, while the unemployment rate ticked up to 8.2% from 8.1%.
The disappointing data added to concerns that the economic recovery in the U.S. is losing momentum and fuelled speculation over the possibility of a third round of quantitative easing from the Federal Reserve.
Investors were also eyeing developments in the euro zone, after data showed that unemployment in the single currency bloc rose to a record high of 11% in April and as fears that Spain may soon require an international bailout persisted.
Elsewhere, the kiwi was higher against the Australian dollar with AUD/NZD shedding 0.13%, to hit 1.2837.
Also Monday, official data showed that company operating profits in Australia fell more-than-expected in the first quarter, dropping 4% after a 6.4% slump the previous quarter. Analysts had expected company operating profits to fall 2.1% in the first quarter.
The report came after data showed that job advertisements in Australia declined by 2.4% in May after a 0.8% fall the previous month.
Later in the day, the U.S. was to produce official data on factory orders.
NZD/USD hit 0.7502 during late Asian trade, the daily low; the pair subsequently consolidated at 0.7524, falling 0.30%.
The pair was likely to find support at 0.7480, the low of May 24 and resistance at 0.7583, the high of May 25.
Market sentiment weakened after the U.S. Department of Labor said on Friday that the economy added just 69,000 jobs in May, far below expectations for a gain of 150,000, while the unemployment rate ticked up to 8.2% from 8.1%.
The disappointing data added to concerns that the economic recovery in the U.S. is losing momentum and fuelled speculation over the possibility of a third round of quantitative easing from the Federal Reserve.
Investors were also eyeing developments in the euro zone, after data showed that unemployment in the single currency bloc rose to a record high of 11% in April and as fears that Spain may soon require an international bailout persisted.
Elsewhere, the kiwi was higher against the Australian dollar with AUD/NZD shedding 0.13%, to hit 1.2837.
Also Monday, official data showed that company operating profits in Australia fell more-than-expected in the first quarter, dropping 4% after a 6.4% slump the previous quarter. Analysts had expected company operating profits to fall 2.1% in the first quarter.
The report came after data showed that job advertisements in Australia declined by 2.4% in May after a 0.8% fall the previous month.
Later in the day, the U.S. was to produce official data on factory orders.