Investing.com - The New Zealand dollar edged lower against its U.S. counterpart on Wednesday, after tepid Chinese manufacturing data and as markets eyed the Reserve Bank of New Zealand's monthly policy statement later in the day.
NZD/USD hit 0.8589 during late Asian trade, the session low; the pair subsequently consolidated at 0.8596, slipping 0.10%.
The pair was likely to find support at 0.8556, the low of April 21 and resistance at 0.8690, the high of April 15.
Data earlier showed that the preliminary reading of China’s HSBC manufacturing purchasing managers’ index came in at 48.3 this month, up slightly from a final reading of 48.0 in March, but still below the 50 line separating expansion from contraction.
China is New Zealand's second biggest export partner.
The kiwi was higher against the Australian dollar, with AUD/NZD retreating 0.84% to 1.0797.
Also Wednesday, official data showed that consumer price inflation in Australia rose 0.6% in the first quarter, below expectations for a 0.8% increase, after a 0.8% rise in the three months to December.
Later in the day, the U.S. was to publish reports on new home sales and manufacturing activity. The RBNZ was to announce its benchmark interest rate and publish its rate statement.