Investing.com – New Zealand's dollar pared losses against its U.S. counterpart on Wednesday, retreating from the daily low, following a raft of mixed U.S. economic data.
NZD/USD retreated from 0.7298, the daily low, to hit 0.7328 during European afternoon trade, shedding 0.21%.
The pair was likely to find support at 0.7267, Tuesday's low and resistance at 0.7393, Tuesday's high.
Earlier in the day, the U.S. Federal Reserve said that industrial production declined by a seasonally adjusted 0.2% in August, after falling by a revised 0.6% in July.
Analysts had expected industrial production to decline by 0.3% in August.
The report also said the capacity utilization rate fell unexpectedly in August.
Meanwhile, separate data showed that an index of manufacturing conditions in New York State fell more-than-expected in September, while import prices increased more-than-expected in August, rising for a second consecutive month.
The kiwi was also sown against the euro, with EUR/NZD gaining 0.18% to hit 1.7734.
Later in the day, the Reserve Bank of New Zealand was to announce its benchmark interest rate.
NZD/USD retreated from 0.7298, the daily low, to hit 0.7328 during European afternoon trade, shedding 0.21%.
The pair was likely to find support at 0.7267, Tuesday's low and resistance at 0.7393, Tuesday's high.
Earlier in the day, the U.S. Federal Reserve said that industrial production declined by a seasonally adjusted 0.2% in August, after falling by a revised 0.6% in July.
Analysts had expected industrial production to decline by 0.3% in August.
The report also said the capacity utilization rate fell unexpectedly in August.
Meanwhile, separate data showed that an index of manufacturing conditions in New York State fell more-than-expected in September, while import prices increased more-than-expected in August, rising for a second consecutive month.
The kiwi was also sown against the euro, with EUR/NZD gaining 0.18% to hit 1.7734.
Later in the day, the Reserve Bank of New Zealand was to announce its benchmark interest rate.