Investing.com - The New Zealand dollar continued to lose ground against its U.S. rival during Friday’s Asian session despite a decent April trade balance report out of New Zealand.
In Asian trading Friday, NZD/USD fell 0.60% to 0.8087. The pair was likely to find support at 0.7939, the low of September 6, 2012 and resistance at 0.8078, the session high.
Earlier Friday, Statistics New Zealand reported an April surplus of NZD157 million. April months have been in surplus since 2009, according to a statement.
The value of imported goods rose NZD263 million (7.4%) to NZD3.8 billion in April 2013, compared with April 2012, Statistics New Zealand said. Exported goods rose 2.2% to NZD4 billion.
After removing seasonal effects, exports decreased 8.6% in April 2013, compared with March 2013, according to the statement.
"The value of goods imported rose on the back of petroleum imports, which can fluctuate depending on the timing of shipments," industry and labor statistics manager Louise Holmes-Oliver said. "The trade surplus has reduced compared with the previous four April months."
In U.S. economic news, the U.S. Labor Department said initial claims for jobless benefits ell by 23,000 to 340,000 last week. Economists expected a reading of 345,000 new claims. The less volatile four-week moving average for May fell to 339,500 from 362,000.
The Commerce Department said new home sales rose 2.3% last month to a seasonally adjusted annual rate of 454,000 units. The median sales price rose 8.3%.
Elsewhere, NZD/JPY inched down 0.07% to 82.91 while AUD/NZD fell 0.12% to 1.1971. GBP/NZD rose 0.39% to 1.8648.
In Asian trading Friday, NZD/USD fell 0.60% to 0.8087. The pair was likely to find support at 0.7939, the low of September 6, 2012 and resistance at 0.8078, the session high.
Earlier Friday, Statistics New Zealand reported an April surplus of NZD157 million. April months have been in surplus since 2009, according to a statement.
The value of imported goods rose NZD263 million (7.4%) to NZD3.8 billion in April 2013, compared with April 2012, Statistics New Zealand said. Exported goods rose 2.2% to NZD4 billion.
After removing seasonal effects, exports decreased 8.6% in April 2013, compared with March 2013, according to the statement.
"The value of goods imported rose on the back of petroleum imports, which can fluctuate depending on the timing of shipments," industry and labor statistics manager Louise Holmes-Oliver said. "The trade surplus has reduced compared with the previous four April months."
In U.S. economic news, the U.S. Labor Department said initial claims for jobless benefits ell by 23,000 to 340,000 last week. Economists expected a reading of 345,000 new claims. The less volatile four-week moving average for May fell to 339,500 from 362,000.
The Commerce Department said new home sales rose 2.3% last month to a seasonally adjusted annual rate of 454,000 units. The median sales price rose 8.3%.
Elsewhere, NZD/JPY inched down 0.07% to 82.91 while AUD/NZD fell 0.12% to 1.1971. GBP/NZD rose 0.39% to 1.8648.