⏳ Final hours! Save up to 60% OFF InvestingProCLAIM SALE

Forex - NZD/USD lower as Fed jitters persist

Published 07/02/2013, 02:58 AM
Updated 07/02/2013, 03:05 AM
NZD/USD
-
AUD/NZD
-
Investing.com - The New Zealand dollar edged lower against its U.S. counterpart on Tuesday, as growing expectations for the Federal Reserve to taper its stimulus program before the year end continued to support demand for the greenback.

NZD/USD hit 0.7765 during late Asian trade, the session low; the pair subsequently consolidated at 0.7806, slipping 0.17%.

The pair was likely to find support at 0.7728, Monday's low and resistance at 0.7853, the high of June 27.

Investors were looking ahead to Friday’s U.S. nonfarm payrolls data, for further clues on when the Federal Reserve may decide to unwind its USD85 billion-a-month stimulus program.

The kiwi was higher against the Australian dollar with AUD/NZD declining 0.35%, to hit 1.1769.

Also Tuesday, the Reserve Bank of Australia left its benchmark interest rate at a record low 2.75%, in a widely expected move.

Commenting on the decision, RBA Governor Glenn Stevens said the Aussie "remains at a high level" and may "depreciate further over time, which would help to foster a rebalancing of growth."

Later in the day, the U.S. was to produce official data on factory orders.


Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.