Investing.com - The New Zealand dollar slipped lower against its U.S. counterpart on Monday, but remained supported after disappointing U.S. jobs data on Friday weighed on demand for the greenback.
NZD/USD hit 0.7962 during late Asian trade, the session low; the pair subsequently consolidated at 0.7989, falling 0.21%.
The pair was likely to find support at 0.7886, the low of September 6 and resistance at 0.8070, the high of August 20.
The greenback remained under pressure after lower-than-expected U.S. nonfarm on Friday dampened expectations that the Federal Reserve could start to pull back stimulus measures later this month.
Elsewhere, improved trade data out of China over the weekend added to indications that the world’s second largest economy is recovering from a slowdown. Data on Sunday showed that Chinese exports were 7.2% higher year-over-year in August, up from 5.1% in July, and imports were up 7%.
Data on Monday showed that Chinese consumer price inflation was up 2.6% year-on-year in August, in line with expectations.
China is New Zealand's second biggest export partner.
The kiwi was lower against the Australian dollar with AUD/NZD gaining 0.30%, to hit 1.1512.
Also Monday, data showed that job advertizements in Australia fell 2% in August, after a 1.10% decline the previous month.
A separate report showed that Australia's home loans rose 2.4% in July, beating expectations for a 2% increase, after a downwardly revised 2.6% rise the previous month.
NZD/USD hit 0.7962 during late Asian trade, the session low; the pair subsequently consolidated at 0.7989, falling 0.21%.
The pair was likely to find support at 0.7886, the low of September 6 and resistance at 0.8070, the high of August 20.
The greenback remained under pressure after lower-than-expected U.S. nonfarm on Friday dampened expectations that the Federal Reserve could start to pull back stimulus measures later this month.
Elsewhere, improved trade data out of China over the weekend added to indications that the world’s second largest economy is recovering from a slowdown. Data on Sunday showed that Chinese exports were 7.2% higher year-over-year in August, up from 5.1% in July, and imports were up 7%.
Data on Monday showed that Chinese consumer price inflation was up 2.6% year-on-year in August, in line with expectations.
China is New Zealand's second biggest export partner.
The kiwi was lower against the Australian dollar with AUD/NZD gaining 0.30%, to hit 1.1512.
Also Monday, data showed that job advertizements in Australia fell 2% in August, after a 1.10% decline the previous month.
A separate report showed that Australia's home loans rose 2.4% in July, beating expectations for a 2% increase, after a downwardly revised 2.6% rise the previous month.