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 drops to 6-year lows in cautious trade

Published 07/16/2015, 02:46 AM
Updated 07/16/2015, 02:46 AM
Kiwi hits 6-year trough vs. greenback after mixed N.Z. data

Investing.com - The New Zealand dollar dropped to six-year lows against its U.S. counterpart on Thursday, after mixed data from New Zealand and as investors remained cautious even after Greece's parliament approved the latest bailout deal.

NZD/USD hit 0.6498 during late Asian trade, the pair's lowest since July 2009; the pair subsequently consolidated at 0.6534, declining 0.83%.

The pair was likely to find support at 0.6191 and resistance at 0.6723, Wednesday's high.

Data earlier showed that the New Zealand Business Manufacturing Index rose to 55.2 in June from a reading of 51.5 the previous month.

A separate report showed that New Zealand's consumer prices rose 0.4% in the second quarter, less than the expected increase of 0.6%, after a 0.3% fall in the three months to March.

Meanwhile, markets were jittery after Greece's parliament approved late Wednesday the bailout package presented by prime minister Alexis Tsipras.

Tsipras can now begin working with Greece's European creditors to obtain emergency funding, in exchange for a series of economic reforms.

The vote came as violent protests erupted in front the Greek parliament in Athens on Wednesday evening contesting the bailout package.

The kiwi was lower against the euro, with EUR/NZD advancing 0.77% to 1.6740.

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.