Investing.com - The New Zealand dollar was higher against its U.S. counterpart on Thursday, after the release of positive business confidence data from New Zealand and as markets awaited upcoming comments by Federal Reserve Chairman Ben Bernanke on Friday.
NZD/USD hit 0.8030 during late Asian trade, the daily high; the pair subsequently consolidated at 0.8028, adding 0.31%.
The pair was likely to find support at 0.7955, the low of July 6 and resistance at 0.8074, the high of July 5.
The National Bank of New Zealand said earlier that its index of business confidence rose to 19.5 in August from a reading of 15.1 the previous month.
The report came after official data showed that building consents in New Zealand rose 2.0% in July after a revised 5.9% increase the previous month.
Meanwhile, investors eyed a speech by the Federal Reserve chairman at the central bank’s annual symposium in Jackson Hole, Wyoming on Friday, amid ongoing speculation over how close the Fed is to implementing more stimulus measures.
The kiwi was higher against the Australian dollar with AUD/NZD shedding 0.40%, to hit 1.2873.
Also Thursday, official data showed that building approvals in Australia dropped far more than expected in July, declining 17.3% after a revised 1% fall the previous month.
Analysts had expected building approvals to fall 4.8% in July.
A separate report showed that private capital expenditure in Australia rose by 3.4% in the second quarter, beating expectations for a 2.7% rise and following a 7.7% jump in the previous quarter.
Later in the day, the U.S. was to produce official data on personal consumption expenditures and personal spending.
NZD/USD hit 0.8030 during late Asian trade, the daily high; the pair subsequently consolidated at 0.8028, adding 0.31%.
The pair was likely to find support at 0.7955, the low of July 6 and resistance at 0.8074, the high of July 5.
The National Bank of New Zealand said earlier that its index of business confidence rose to 19.5 in August from a reading of 15.1 the previous month.
The report came after official data showed that building consents in New Zealand rose 2.0% in July after a revised 5.9% increase the previous month.
Meanwhile, investors eyed a speech by the Federal Reserve chairman at the central bank’s annual symposium in Jackson Hole, Wyoming on Friday, amid ongoing speculation over how close the Fed is to implementing more stimulus measures.
The kiwi was higher against the Australian dollar with AUD/NZD shedding 0.40%, to hit 1.2873.
Also Thursday, official data showed that building approvals in Australia dropped far more than expected in July, declining 17.3% after a revised 1% fall the previous month.
Analysts had expected building approvals to fall 4.8% in July.
A separate report showed that private capital expenditure in Australia rose by 3.4% in the second quarter, beating expectations for a 2.7% rise and following a 7.7% jump in the previous quarter.
Later in the day, the U.S. was to produce official data on personal consumption expenditures and personal spending.