Investing.com - The New Zealand dollar rose in early Asian trade on Wednesday following a narrower than forecast October trade deficit that showed exports to China rose strongly.
NZD/USD rose to 0.8201, up 0.09%, and in a range of 0.8188 - 0.8205, crossing the 82 threshold after the trade data that showed the narrowest deficit since 1996 at NZD168 million, compared to a forecast of NZD350 million and the highest-ever level of exports to China for any month.
AUD/USD held steady at 0.9130, up 0.04%, ahead of third quarter construction work done data at 1130 local time (0030 GMT) forecast to show an increase of 0.5%.
USD/JPY traded at 101.32, up 0.04%, weakening ahead of a speech by Bank of Japan board member Sayuri Shirai at 1100 local time (0210 GMT).
Overnight, the dollar weakened against most major currencies after a widely-watched gauge of U.S. consumer confidence disappointed investors and bolstered ongoing expectations for the Federal Reserve to keep its dollar-weakening monetary stimulus programs in place through early 2014.
The Conference Board reported earlier that its index of U.S. consumer confidence declined to 70.4 in November from 72.4 in October.
Analysts were expecting the index to rise to 72.9 this month, and the disappointing reading weakened demand for the dollar by keeping expectations alive for the Fed to hold off on scaling back monthly bond purchases until early 2014, possibly in March, when Fed Chair nominee Janet Yellen holds her first policy meeting as head of the U.S. central bank.
The news offset official data revealing that the number of building permits issued in the U.S. in October rose to its highest level since January 2008.
The Commerce Department reported earlier that the number of building permits issued rose 6.2% to a seasonally adjusted 1.034 million units from September’s total of 970,000. Analysts expected building permits to decline to 940,000 units in October.
Elsewhere in the U.S. housing sector, the Standard & Poor's/Case-Shiller 20-city home price index rose 0.7% in September from August and 13.3% on year in September.
The monthly increase met expectations, though September's on-year gain, the fastest since February of 2006, beat consensus forecasts for a 13.0% reading.
Meanwhile across the Atlantic Ocean, the euro shrugged off dovish remarks by European Central Bank board member Benoit Coeure, who said earlier that negative deposit rates are still a possibility.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, traded at 80.65, up 0.02%.
On Wednesday, the U.S. is to release data on durable goods orders, a report on manufacturing activity in the Chicago region and revised data on consumer sentiment.
The Labor Department is to release the weekly report on initial jobless claims one day ahead of schedule due to Thursday’s Thanksgiving holiday.
NZD/USD rose to 0.8201, up 0.09%, and in a range of 0.8188 - 0.8205, crossing the 82 threshold after the trade data that showed the narrowest deficit since 1996 at NZD168 million, compared to a forecast of NZD350 million and the highest-ever level of exports to China for any month.
AUD/USD held steady at 0.9130, up 0.04%, ahead of third quarter construction work done data at 1130 local time (0030 GMT) forecast to show an increase of 0.5%.
USD/JPY traded at 101.32, up 0.04%, weakening ahead of a speech by Bank of Japan board member Sayuri Shirai at 1100 local time (0210 GMT).
Overnight, the dollar weakened against most major currencies after a widely-watched gauge of U.S. consumer confidence disappointed investors and bolstered ongoing expectations for the Federal Reserve to keep its dollar-weakening monetary stimulus programs in place through early 2014.
The Conference Board reported earlier that its index of U.S. consumer confidence declined to 70.4 in November from 72.4 in October.
Analysts were expecting the index to rise to 72.9 this month, and the disappointing reading weakened demand for the dollar by keeping expectations alive for the Fed to hold off on scaling back monthly bond purchases until early 2014, possibly in March, when Fed Chair nominee Janet Yellen holds her first policy meeting as head of the U.S. central bank.
The news offset official data revealing that the number of building permits issued in the U.S. in October rose to its highest level since January 2008.
The Commerce Department reported earlier that the number of building permits issued rose 6.2% to a seasonally adjusted 1.034 million units from September’s total of 970,000. Analysts expected building permits to decline to 940,000 units in October.
Elsewhere in the U.S. housing sector, the Standard & Poor's/Case-Shiller 20-city home price index rose 0.7% in September from August and 13.3% on year in September.
The monthly increase met expectations, though September's on-year gain, the fastest since February of 2006, beat consensus forecasts for a 13.0% reading.
Meanwhile across the Atlantic Ocean, the euro shrugged off dovish remarks by European Central Bank board member Benoit Coeure, who said earlier that negative deposit rates are still a possibility.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, traded at 80.65, up 0.02%.
On Wednesday, the U.S. is to release data on durable goods orders, a report on manufacturing activity in the Chicago region and revised data on consumer sentiment.
The Labor Department is to release the weekly report on initial jobless claims one day ahead of schedule due to Thursday’s Thanksgiving holiday.