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Forex - NZD/USD slides lower after N.Z. manufacturing data

Published 02/12/2015, 02:43 AM
Kiwi declines vs. greenback as N.Z. data, Greece concerns weigh
NZD/USD
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EUR/NZD
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Investing.com - The New Zealand dollar slid lower against its U.S. counterpart on Thursday, after disappointing New Zealand manufacturing activity data and as Greece concerns continued to weigh.

NZD/USD hit 0.7332 during late Asian trade, the pair's lowest since February 9; the pair subsequently consolidated at 0.7335, shedding 0.45%.

The pair was likely to find support at 0.7287, the low of February 4 and resistance at 0.7448, Wednesday's high.

Data earlier showed that the New Zealand Business Manufacturing Index fell to 50.9 last month from a reading of 57.1 in December, whose figure was revised from a previously estimated 57.7.

Meanwhile, market sentiment remained under pressure after talks between Greece and its European partners failed to reach agreement on a way forward to allow Athens to get a needed funding program in place before the end of the month.

Another Eurogroup meeting in Brussels was set for next Monday.

The kiwi was lower against the euro, with EUR/NZD rising 0.35% to 1.5445.

Later in the day, the U.S. was to release reports on retail sales and initial jobless claims.

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