Investing.com - The New Zealand dollar rose against its U.S. counterpart on Thursday, but gains were limited as signs of a further slowdown in the euro zone and ongoing global growth concerns weighed on the kiwi.
NZD/USD hit 0.8188 during late Asian trade, the daily high; the pair subsequently consolidated at 0.8181, advancing 0.41%.
The pair was likely to find support at 0.8098, the low of March 23 and resistance at 0.8236, the high of March 26.
The risk related kiwi came under pressure on Wednesday as the cost of insuring Spain’s debt against default climbed after a disappointing government bond auction added to concerns that Spain may be the next euro zone member to require a bailout.
Sentiment also weakened after data confirmed that the euro zone service sector contracted for the sixth time in seven months in March, while retail sales fell by 0.1% in February, against expectations for a 0.1% increase.
Meanwhile, the greenback remained supported by diminished expectations for another round of easing from the Federal Reserve, and after data on Wednesday showed that the U.S. private sector added more jobs than expected in March.
Payroll processing firm ADP reported that the U.S. private sector added 209,000 jobs last month, outstripping expectations for an increase of 200,000.
Elsewhere, the New Zealand dollar was steady against its Australian counterpart with AUD/NZD edging 0.02% lower, to hit 1.2598.
Later in the day, the U.S. was to publish government data on unemployment claims.
NZD/USD hit 0.8188 during late Asian trade, the daily high; the pair subsequently consolidated at 0.8181, advancing 0.41%.
The pair was likely to find support at 0.8098, the low of March 23 and resistance at 0.8236, the high of March 26.
The risk related kiwi came under pressure on Wednesday as the cost of insuring Spain’s debt against default climbed after a disappointing government bond auction added to concerns that Spain may be the next euro zone member to require a bailout.
Sentiment also weakened after data confirmed that the euro zone service sector contracted for the sixth time in seven months in March, while retail sales fell by 0.1% in February, against expectations for a 0.1% increase.
Meanwhile, the greenback remained supported by diminished expectations for another round of easing from the Federal Reserve, and after data on Wednesday showed that the U.S. private sector added more jobs than expected in March.
Payroll processing firm ADP reported that the U.S. private sector added 209,000 jobs last month, outstripping expectations for an increase of 200,000.
Elsewhere, the New Zealand dollar was steady against its Australian counterpart with AUD/NZD edging 0.02% lower, to hit 1.2598.
Later in the day, the U.S. was to publish government data on unemployment claims.