Investing.com – The New Zealand dollar traded higher against its U.S. counterpart on Thursday, easing up from a six-day low as the greenback took a breather after Wednesday’s rally.
NZD/USD hit 0.7601 during early European trade, the daily high; the pair subsequently consolidated at 0.7585, gaining 0.21%.
The pair was likely to find support at 0.7429, the low of December 28 and resistance at 0.768, Wednesday’s high.
The kiwi was supported by rising commodity prices after severe flooding in Australia disrupted coal production and threatened to constrain global steel output.
The greenback rallied on Wednesday after U.S. data showed that a record 297,000 private-sector jobs were created in the in December, much stronger than the 100,000 consensus forecast.
A separate report showed that the U.S. service sector expanded in December at the fastest pace since May 2006 but said that the employment component weakened slightly.
The kiwi was also higher against the euro, with EUR/NZD shedding 0.43% to hit 1.7292.
Later in the day, the U.S. was to publish official data on initial jobless claims.
NZD/USD hit 0.7601 during early European trade, the daily high; the pair subsequently consolidated at 0.7585, gaining 0.21%.
The pair was likely to find support at 0.7429, the low of December 28 and resistance at 0.768, Wednesday’s high.
The kiwi was supported by rising commodity prices after severe flooding in Australia disrupted coal production and threatened to constrain global steel output.
The greenback rallied on Wednesday after U.S. data showed that a record 297,000 private-sector jobs were created in the in December, much stronger than the 100,000 consensus forecast.
A separate report showed that the U.S. service sector expanded in December at the fastest pace since May 2006 but said that the employment component weakened slightly.
The kiwi was also higher against the euro, with EUR/NZD shedding 0.43% to hit 1.7292.
Later in the day, the U.S. was to publish official data on initial jobless claims.