Investing.com - The New Zealand dollar was lower against its U.S. counterpart on Monday, as positive U.S. employment data eased concerns over the country’s economic recovery, sending the greenback broadly higher.
NZD/USD hit 0.8170 during late Asian trade, the pair’s lowest since March 8; the pair subsequently consolidated at 0.8179, declining 0.43%.
The pair was likely to find support at 0.8138, the low of March 8 and resistance at 0.8222, the high of March 6.
The Department of Labor said the U.S. economy added 227,000 jobs in February after increasing by a revised 284,000 the previous month. The unemployment rate held steady at a three year low of 8.3%.
The strong data boosted the dollar as it diminished expectations for a fresh round of asset purchases by the Federal Reserve to help stimulate economic growth.
Meanwhile, the risk-related kiwi remained vulnerable after the International Swaps and Derivatives Association said Greece’s debt swap constituted a “credit event” that would activate credit-default swaps, which designed to protect investors against losses on Greek sovereign debt.
Earlier in the day, government data showed that core machinery orders in Japan rose more-than-expected in January, rising 3.4% after a 7.1% decline the previous month.
Japan is New Zealand’s second biggest export partner.
Elsewhere, the kiwi was fractionally lower against the Australian dollar with AUD/NZD edging up 0.08%, to hit 1.2884.
Later in the day, the U.S. was to publish government data on the federal budget balance.
NZD/USD hit 0.8170 during late Asian trade, the pair’s lowest since March 8; the pair subsequently consolidated at 0.8179, declining 0.43%.
The pair was likely to find support at 0.8138, the low of March 8 and resistance at 0.8222, the high of March 6.
The Department of Labor said the U.S. economy added 227,000 jobs in February after increasing by a revised 284,000 the previous month. The unemployment rate held steady at a three year low of 8.3%.
The strong data boosted the dollar as it diminished expectations for a fresh round of asset purchases by the Federal Reserve to help stimulate economic growth.
Meanwhile, the risk-related kiwi remained vulnerable after the International Swaps and Derivatives Association said Greece’s debt swap constituted a “credit event” that would activate credit-default swaps, which designed to protect investors against losses on Greek sovereign debt.
Earlier in the day, government data showed that core machinery orders in Japan rose more-than-expected in January, rising 3.4% after a 7.1% decline the previous month.
Japan is New Zealand’s second biggest export partner.
Elsewhere, the kiwi was fractionally lower against the Australian dollar with AUD/NZD edging up 0.08%, to hit 1.2884.
Later in the day, the U.S. was to publish government data on the federal budget balance.