Investing.com - The New Zealand dollar rose against its U.S. counterpart on Monday, but gains were limited as expectations for the Federal Reserve to soon begin scaling back its bond purchases continued to support the greenback.
NZD/USD hit 0.8289 during late Asian trade, the pair's highest since October 31; the pair subsequently consolidated at 0.8291, rising 0.38%.
The pair was likely to find support at 0.8193, the low of October 30 and resistance at 0.8338, the high of October 25.
Demand for the greenback remained supported after unexpectedly strong U.S. manufacturing data on Friday added to expectations that the Federal Reserve could start to taper its stimulus program as soon as next month.
Federal Reserve Bank of Dallas President Richard Fisher said Monday that the recent fiscal standoff in Washington counteracted the role of the Fed’s easy money policies in the economic recovery. The comments came during a speech in Sydney.
The kiwi was lower against the Australian dollar with AUD/NZD gaining 0.28%, to hit 1.1457.
Also Monday, official data showed that retail sales in Australia 0.8% in September, beating expectations for a 0.4% increase, after an upwardly revised 0.5% rise the previous month.
A separate report showed that job advertizements in Australia fell 0.1% in October, following a 0.2% increase the previous month.
In addition, Australia's house price inflation rose 1.9% in the third quarter, confounding expectations for a 2.1% increase, after an upwardly revised 2.7% rise in the the three months to June.
Later in the day, the U.S. was to release data on factory orders.
NZD/USD hit 0.8289 during late Asian trade, the pair's highest since October 31; the pair subsequently consolidated at 0.8291, rising 0.38%.
The pair was likely to find support at 0.8193, the low of October 30 and resistance at 0.8338, the high of October 25.
Demand for the greenback remained supported after unexpectedly strong U.S. manufacturing data on Friday added to expectations that the Federal Reserve could start to taper its stimulus program as soon as next month.
Federal Reserve Bank of Dallas President Richard Fisher said Monday that the recent fiscal standoff in Washington counteracted the role of the Fed’s easy money policies in the economic recovery. The comments came during a speech in Sydney.
The kiwi was lower against the Australian dollar with AUD/NZD gaining 0.28%, to hit 1.1457.
Also Monday, official data showed that retail sales in Australia 0.8% in September, beating expectations for a 0.4% increase, after an upwardly revised 0.5% rise the previous month.
A separate report showed that job advertizements in Australia fell 0.1% in October, following a 0.2% increase the previous month.
In addition, Australia's house price inflation rose 1.9% in the third quarter, confounding expectations for a 2.1% increase, after an upwardly revised 2.7% rise in the the three months to June.
Later in the day, the U.S. was to release data on factory orders.