Investing.com - The New Zealand dollar ended Friday’s session at the lowest level since September against its U.S. counterpart, amid ongoing expectations the Federal Reserve will begin unwinding its stimulus programs by the end of the year.
NZD/USD hit 0.8124 on Friday, the pair’s lowest since September 13; the pair subsequently consolidated at 0.8186 by close of trade on Friday, down 0.24% for the day and 1.79% lower for the week.
The pair is likely to find support at 0.812, Friday’s low and resistance at 0.8271, the high from November 21.
Demand for the U.S. dollar continued to be underpinned after Wednesday’s minutes of the Federal Reserve’s October meeting said the bank could start scaling back its USD85 billion-a-month asset purchase program in the “coming months” if the economy continues to improve as expected.
Data released Thursday showed that U.S. manufacturing activity improved to an eight-month high of 54.3 in November from a reading of 51.8 in October.
Also Thursday, government data said that the number of people filing for initial jobless benefits last week fell by 21,000 to a seasonally adjusted 323,000, the lowest since September.
Meanwhile, in New Zealand, data released earlier in the week showed that producer price inflation input rose 2.2% in the third quarter, exceeding expectations for a 0.6% uptick, after a 0.6% rise in the three months to June.
In the week ahead, investors will be closely watching a flurry of U.S. data to further gauge the strength of the economy and the need for stimulus from the Federal Reserve.
The U.S. is to release a series of reports on the housing sector, as well as data on consumer confidence and durable goods orders in the coming week.
Ahead of the coming week, Investing.com has compiled a list of these and other significant events likely to affect the markets. The guide skips Friday as there are no relevant events on that day.
Monday, November 25
The U.S. is to release private sector data on pending home sales, a leading indicator of economic health.
Tuesday, November 26
The U.S. is to produce data on building permits, a leading indicator of future construction activity as well as a report on housing starts. The nation is also to release private sector data on consumer confidence and house price inflation.
Later Tuesday, New Zealand is to publish data on the trade balance, the difference in value between imports and exports.
Wednesday, November 27
The U.S. is to release data on durable goods orders, a leading indicator of production, as well as 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.
Thursday, November 28
New Zealand is to release private sector data on business confidence and a separate report on building consents.
Markets in the U.S. will be closed for the Thanksgiving holiday.
NZD/USD hit 0.8124 on Friday, the pair’s lowest since September 13; the pair subsequently consolidated at 0.8186 by close of trade on Friday, down 0.24% for the day and 1.79% lower for the week.
The pair is likely to find support at 0.812, Friday’s low and resistance at 0.8271, the high from November 21.
Demand for the U.S. dollar continued to be underpinned after Wednesday’s minutes of the Federal Reserve’s October meeting said the bank could start scaling back its USD85 billion-a-month asset purchase program in the “coming months” if the economy continues to improve as expected.
Data released Thursday showed that U.S. manufacturing activity improved to an eight-month high of 54.3 in November from a reading of 51.8 in October.
Also Thursday, government data said that the number of people filing for initial jobless benefits last week fell by 21,000 to a seasonally adjusted 323,000, the lowest since September.
Meanwhile, in New Zealand, data released earlier in the week showed that producer price inflation input rose 2.2% in the third quarter, exceeding expectations for a 0.6% uptick, after a 0.6% rise in the three months to June.
In the week ahead, investors will be closely watching a flurry of U.S. data to further gauge the strength of the economy and the need for stimulus from the Federal Reserve.
The U.S. is to release a series of reports on the housing sector, as well as data on consumer confidence and durable goods orders in the coming week.
Ahead of the coming week, Investing.com has compiled a list of these and other significant events likely to affect the markets. The guide skips Friday as there are no relevant events on that day.
Monday, November 25
The U.S. is to release private sector data on pending home sales, a leading indicator of economic health.
Tuesday, November 26
The U.S. is to produce data on building permits, a leading indicator of future construction activity as well as a report on housing starts. The nation is also to release private sector data on consumer confidence and house price inflation.
Later Tuesday, New Zealand is to publish data on the trade balance, the difference in value between imports and exports.
Wednesday, November 27
The U.S. is to release data on durable goods orders, a leading indicator of production, as well as 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.
Thursday, November 28
New Zealand is to release private sector data on business confidence and a separate report on building consents.
Markets in the U.S. will be closed for the Thanksgiving holiday.