Investing.com - The New Zealand dollar rose to over two-week highs against its U.S. counterpart on Monday, as the previous week's upbeat U.S. jobs data continued to support market sentiment.
NZD/USD hit 0.8321 during late Asian trade, the pair's highest since November 20; the pair subsequently consolidated at 0.8295, edging up 0.13%.
The pair was likely to find support at 0.8166, the low of December 4 and resistance at 0.8378, the high of November 20.
Friday’s U.S. nonfarm payrolls report showed that the economy added 203,000 jobs in November, well above expectations for jobs growth of 180,000. The unemployment rate fell to a five year low of 7.0%.
The data bolstered optimism over the outlook for the economic recovery and reinforced expectations that the Federal Reserve will start reducing its USD85 billion-a-month stimulus program at one of its next few meetings.
On Sunday, data showed that China’s trade surplus widened to USD33.8 billion last month from a surplus of USD31.1 billion in October, compared to estimates for a surplus of USD21.7 billion.
China is New Zealand's second biggest export partner.
The kiwi was higher against the Australian dollar, with AUD/NZD shedding 0.35% to 1.0952.
Also Monday, data showed that job advertisements in Australia fell 0.8% in November, after a 0.1% downtick the previous month.
NZD/USD hit 0.8321 during late Asian trade, the pair's highest since November 20; the pair subsequently consolidated at 0.8295, edging up 0.13%.
The pair was likely to find support at 0.8166, the low of December 4 and resistance at 0.8378, the high of November 20.
Friday’s U.S. nonfarm payrolls report showed that the economy added 203,000 jobs in November, well above expectations for jobs growth of 180,000. The unemployment rate fell to a five year low of 7.0%.
The data bolstered optimism over the outlook for the economic recovery and reinforced expectations that the Federal Reserve will start reducing its USD85 billion-a-month stimulus program at one of its next few meetings.
On Sunday, data showed that China’s trade surplus widened to USD33.8 billion last month from a surplus of USD31.1 billion in October, compared to estimates for a surplus of USD21.7 billion.
China is New Zealand's second biggest export partner.
The kiwi was higher against the Australian dollar, with AUD/NZD shedding 0.35% to 1.0952.
Also Monday, data showed that job advertisements in Australia fell 0.8% in November, after a 0.1% downtick the previous month.