Investing.com - The New Zealand dollar slid against its U.S. counterpart on Thursday, as markets eyed French and Spanish debt auctions later in the day amid sustained concerns over the financial crisis in the euro zone.
NZD/USD hit 0.8008 during late Asian trade, the daily low; the pair subsequently consolidated at 0.8015, shedding 0.35%.
The pair was likely to find support at 0.7929, the low of January 17 and resistance at 0.8077, the high of October 25.
France was preparing to raise as much as EUR9.5 billion euros in its first sale of medium and long-term debt after Standard & Poor’s downgraded its triple A rating.
Spain, whose rating was lowered by two levels to A, was set to offer as much as EUR4.5 billion of bonds later Thursday.
Elsewhere, talks between Greek Prime Minister Lucas Papademos and the country’s creditors resumed on Wednesday, after breaking down last week amid disagreements over how much money investors will lose by swapping their bonds.
Earlier Thursday, official data showed that consumer price inflation in New Zealand fell unexpectedly in the fourth quarter, ticking down 0.3% after a 0.4% rise the previous quarter.
Analysts had expected consumer price inflation to rise 0.4% in the fourth quarter.
Meanwhile, the kiwi was higher against the Australian dollar with AUD/NZD slipping 0.20%, to hit 1.2943.
Also Thursday, official data showed that Australian employment change fell by 29,300 in December, confounding expectations for a gain of 10,000. The report also showed that Australia’s unemployment rate held steady at 5.2%.
Later in the day, the U.S. was to publish official data on building reports and housing starts as well as a report on consumer price inflation. The country was also to release government data on unemployment claims and a separate report on manufacturing activity in the Philadelphia area.
NZD/USD hit 0.8008 during late Asian trade, the daily low; the pair subsequently consolidated at 0.8015, shedding 0.35%.
The pair was likely to find support at 0.7929, the low of January 17 and resistance at 0.8077, the high of October 25.
France was preparing to raise as much as EUR9.5 billion euros in its first sale of medium and long-term debt after Standard & Poor’s downgraded its triple A rating.
Spain, whose rating was lowered by two levels to A, was set to offer as much as EUR4.5 billion of bonds later Thursday.
Elsewhere, talks between Greek Prime Minister Lucas Papademos and the country’s creditors resumed on Wednesday, after breaking down last week amid disagreements over how much money investors will lose by swapping their bonds.
Earlier Thursday, official data showed that consumer price inflation in New Zealand fell unexpectedly in the fourth quarter, ticking down 0.3% after a 0.4% rise the previous quarter.
Analysts had expected consumer price inflation to rise 0.4% in the fourth quarter.
Meanwhile, the kiwi was higher against the Australian dollar with AUD/NZD slipping 0.20%, to hit 1.2943.
Also Thursday, official data showed that Australian employment change fell by 29,300 in December, confounding expectations for a gain of 10,000. The report also showed that Australia’s unemployment rate held steady at 5.2%.
Later in the day, the U.S. was to publish official data on building reports and housing starts as well as a report on consumer price inflation. The country was also to release government data on unemployment claims and a separate report on manufacturing activity in the Philadelphia area.