Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Forex - NZD/USD almost unchanged after RBNZ rate statement

ForexMar 14, 2013 04:08AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
Investing.com - The New Zealand dollar was almost unchanged against its U.S. counterpart on Thursday, after the Reserve Bank of New Zealand held interest rates, while recent signs of a strong U.S. economic recovery continued to support demand for the greenback.

NZD/USD hit 0.8202 during late Asian trade, the session high; the pair subsequently consolidated at 0.8184, easing up 0.04%.

The pair was likely to find support at 0.8152, the low of November 23 and resistance at 0.8234, the high of December 30.

In a widely expected move, the RBNZ left the benchmark interest rate unchanged at a record low of 2.50%.

The kiwi weakened however, as central bank officials threatened to cut interest rates in the future, if the currency appreciates unreasonably.

Meanwhile, the greenback remained supported after positive U.S. retail sales data on Wednesday added to optimism that the country's recovery is gaining traction after data last week showed that the economy added more jobs than expected in February, bringing the unemployment rate to a four-year low of 7.7%.

The Commerce Department said U.S. retail sales rose 1.1% in February, beating expectations for a 0.5% increase, while core retail sales, which exclude automobile sales, climbed 1.0% compared to expectations for a 0.2% gain.

The kiwi was sharply lower against the Australian dollar with AUD/NZD climbing 0.62%, to hit 1.2663.

Also Thursday, official data showed that the Australian economy added 71,500 jobs in February, exceeding expectations for a 9,000 rise, after an increase of 13,000 jobs the previous month.

The report also showed that the unemployment rate in Australia remained unchanged at 5.4% last month, compared to expectations for a rise to 5.5%.

Later in the day, the U.S. was to release government data on producer price inflation and the weekly government report on initial jobless claims.


Forex - NZD/USD almost unchanged after RBNZ rate statement
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email