Investing.com - The New Zealand dollar was almost unchanged against its U.S. counterpart on Thursday, as investors remained cautious over the debt crisis in the euro zone ahead of French and Spanish bond auctions later in the day.
NZD/USD hit 0.7618 during late Asian trade, the pair's lowest since October 5; the pair subsequently consolidated at 0.7660, inching up 0.03%.
The pair was likely to find support at 0.7796, the low of October 5 and resistance at 0.7796, the high of October 7.
Later in the day, Spain was due to auction up to EUR4 billion of 10-year bonds and Madrid was expected to face its highest borrowing cost since the inception of the single currency.
France was to auction up to EUR7 billion in government bonds after borrowing costs rose to a euro-era high on Wednesday as European Central Bank buying of Italian and Spanish debt failed to reassure markets.
Markets were also jittery after Moody's Investors Service cut ratings of 12 German public-sector banks, believing they are likely to receive less federal government support if needed.
Earlier Thursday, official data showed that New Zealand's producer price inflation input rose 0.6% in the third quarter, in line with expectations, after a 0.9% increase the previous quarter.
Elsewhere, the kiwi was down against the euro with EUR/NZD edging down 0.05%, to hit 1.7592.
Later in the day, the U.S. was to release official data on initial jobless claims, building permits and housing starts and a report on manufacturing activity in the Philadelphia region.
NZD/USD hit 0.7618 during late Asian trade, the pair's lowest since October 5; the pair subsequently consolidated at 0.7660, inching up 0.03%.
The pair was likely to find support at 0.7796, the low of October 5 and resistance at 0.7796, the high of October 7.
Later in the day, Spain was due to auction up to EUR4 billion of 10-year bonds and Madrid was expected to face its highest borrowing cost since the inception of the single currency.
France was to auction up to EUR7 billion in government bonds after borrowing costs rose to a euro-era high on Wednesday as European Central Bank buying of Italian and Spanish debt failed to reassure markets.
Markets were also jittery after Moody's Investors Service cut ratings of 12 German public-sector banks, believing they are likely to receive less federal government support if needed.
Earlier Thursday, official data showed that New Zealand's producer price inflation input rose 0.6% in the third quarter, in line with expectations, after a 0.9% increase the previous quarter.
Elsewhere, the kiwi was down against the euro with EUR/NZD edging down 0.05%, to hit 1.7592.
Later in the day, the U.S. was to release official data on initial jobless claims, building permits and housing starts and a report on manufacturing activity in the Philadelphia region.