Investing.com - The New Zealand dollar slipped lower against its U.S. counterpart in cautious trade on Thursday, as investors awaited the release of U.S. economic reports later in the day for further indications on the strength of the economy.
NZD/USD hit 0.6331 during late Asian trade, the session low; the pair subsequently consolidated at 0.6337, shedding 0.20%.
The pair was likely to find support at 0.6244, the low of August 24 and a six-year low and resistance at 0.6481, the high of August 31.
Investors were looking ahead to U.S. reports on trade and unemployment claims, due later in the day, as well as to Friday's highly-anticipated jobs report for further indications on the strength of the economy and signs of a potential rate hike by the Federal Reserve this month.
Payroll processing firm ADP reported on Thursday that U.S. non-farm private employment rose by 190,000 last month, below expectations for an increase of 201,000.
The kiwi was higher against the Australian dollar, with AUD/NZD shedding 0.24% to 1.1055.
Earlier Thursday, the Australian Bureau of Statistics reported that retail sales fell 0.1% in July, compared to expectations for a 0.4% gain. Retail sales increased by 0.6% in June, whose figure was revised from a previously estimated 0.7% rise.
Data also showed that Australia's trade deficit narrowed to A$2.46 billion in July from A$3.05 billion in June, whose figure was revised from a previously estimated deficit of A$2.93 billion.
Analysts had expected the trade deficit to widen to A$3.10 billion in July.