Investing.com - The New Zealand dollar slipped lower against its U.S. counterpart on Monday, as market sentiment remained under pressure amid renewed concerns over the situation in the euro zone.
NZD/USD hit 0.8424 during late Asian trade, the pair's lowest since February 12; the pair subsequently consolidated at 0.8429, slipping 0.20%.
The pair was likely to find support at 0.8395, the low of February 12 and resistance at 0.8471, the high of February 4.
Investor confidence weakened after data on Thursday showed that the euro zone's economy contracted by 0.6% in the three months to December, compared to expectations for a 0.4% decline.
The weak data fuelled speculation over a possible rate cut by the European Central Bank in the coming months.
Elsewhere, the kiwi was steady against the Australian dollar with AUD/NZD inching up 0.06%, to hit 1.2212.
Also Monday, official data showed that new motor vehicle sales in Australia fell 2.4% in January, after a 2.8% increase the previous month.
Trade volumes were expected to remain light on Monday, with U.S. markets remaining closed for the President’s Day holiday.
NZD/USD hit 0.8424 during late Asian trade, the pair's lowest since February 12; the pair subsequently consolidated at 0.8429, slipping 0.20%.
The pair was likely to find support at 0.8395, the low of February 12 and resistance at 0.8471, the high of February 4.
Investor confidence weakened after data on Thursday showed that the euro zone's economy contracted by 0.6% in the three months to December, compared to expectations for a 0.4% decline.
The weak data fuelled speculation over a possible rate cut by the European Central Bank in the coming months.
Elsewhere, the kiwi was steady against the Australian dollar with AUD/NZD inching up 0.06%, to hit 1.2212.
Also Monday, official data showed that new motor vehicle sales in Australia fell 2.4% in January, after a 2.8% increase the previous month.
Trade volumes were expected to remain light on Monday, with U.S. markets remaining closed for the President’s Day holiday.