Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Forex - NZD/USD declines after U.S. GDP data

Published 03/30/2015, 03:08 AM
Updated 03/30/2015, 03:08 AM
Kiwi moves lower vs. broadly stronger greenback

Investing.com - The New Zealand dollar declined against its U.S. counterpart on Monday, to trade at one-week lows as demand for the greenback remained broadly supported by Friday's upbeat fourth-quarter U.S. growth data and remarks by Federal Reserve Chair Janet Yellen.

NZD/USD hit 0.7525 during late Asian trade, the pair's lowest since March 20; the pair subsequently consolidated at 0.7516, sliding 0.65%.

The pair was likely to find support at 0.7448, the low of March 5 and resistance at 0.7619, the high of March 27.

The greenback remained supported after the Commerce Department reported Friday that the U.S. economy expanded at an annual rate of 2.2% in the fourth quarter, unchanged from the preliminary estimate and below economists’ forecasts for an upward revision to 2.4%.

Separately, In addition, Fed Chair Janet Yellen said in a speech on Friday that a rate hike may be warranted later this year, but added that weakening inflation pressures could force the Fed to delay.

Ms. Yellen said policy tightening could "speed up, slow down, pause, or even reverse course" depending on how the economy is performing.

The kiwi was fractionally lower against the Australian dollar, with AUD/NZD edging up 0.08% to 1.0248.

Later in the day, the U.S. was to release reports on personal spending and pending home sales.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.