Investing.com – New Zealand's dollar trimmed losses against its U.S. counterpart on Tuesday, ahead of a rate statement by members of the Federal Reserves Open Market Committee.
NZD/USD retreated from 0.7257, the daily low, to hit 0.7296 during European afternoon trade, shedding 0.22%.
The pair was likely to find support at 0.7214, the low of September 15 and resistance at 0.7356, the high of September 15.
Earlier in the day, official U.S. data showed that building permits and housing starts rose more-than-expected in August.
In a report, the Census Bureau said the number of housing starts rose to a seasonally adjusted 0.60 million in August, up from a revised 0.54 million in July. Analysts had expected housing starts to rise to 0.55 million in August.
The report also said that the number of building permits issued in August rose to a seasonally adjusted 0.57 million, up from a revised 0.56 million in July. Analysts had expected building permits to remain unchanged in August.
The kiwi also down against the euro, with EUR/NZD gaining 0.80% to hit 1.8020.
Later Tuesday, the U.S. Federal Reserve was to announce its benchmark interest rate. The announcement was to be followed by a closely watched statement on U.S. monetary policy and economic outlook.
NZD/USD retreated from 0.7257, the daily low, to hit 0.7296 during European afternoon trade, shedding 0.22%.
The pair was likely to find support at 0.7214, the low of September 15 and resistance at 0.7356, the high of September 15.
Earlier in the day, official U.S. data showed that building permits and housing starts rose more-than-expected in August.
In a report, the Census Bureau said the number of housing starts rose to a seasonally adjusted 0.60 million in August, up from a revised 0.54 million in July. Analysts had expected housing starts to rise to 0.55 million in August.
The report also said that the number of building permits issued in August rose to a seasonally adjusted 0.57 million, up from a revised 0.56 million in July. Analysts had expected building permits to remain unchanged in August.
The kiwi also down against the euro, with EUR/NZD gaining 0.80% to hit 1.8020.
Later Tuesday, the U.S. Federal Reserve was to announce its benchmark interest rate. The announcement was to be followed by a closely watched statement on U.S. monetary policy and economic outlook.