Investing.com - The New Zealand dollar edged higher against its U.S. counterpart on Wednesday, amid sustained hopes for fresh action by world central banks although investors remained cautious ahead of a speech by Federal Reserve Chairman Ben Bernanke later in the week.
NZD/USD hit 0.8055 during late Asian trade, the daily high; the pair subsequently consolidated at 0.8057, adding 0.12%.
The pair was likely to find support at 0.7999, the low of July 2 and resistance at 0.8128, the high of August 13.
Sentiment remained mildly supported after the European Central Bank said on Tuesday that its President Mario Draghi would not be attending an annual symposium in Jackson Hole, Wyoming, on Friday, due to his "heavy workload" in the next few days.
The unexpected announcement fuelled expectations that the ECB is working on policy measures to help stabilize the euro zone's sovereign debt markets, ahead of its next policy meeting on September 6.
The ECB president had been due to speak at the summit on Saturday, one day after a keenly anticipated speech by Federal Reserve Chairman Ben Bernanke, amid ongoing speculation over how close the U.S. central bank is to implementing more stimulus measures.
Investors were also eyeing the release of U.S. economic growth data later in the day, for further indications on the strength of the country’s economic recovery.
The kiwi was steady against the Australian dollar with AUD/NZD easing 0.07%, to hit 1.2885.
Also Wednesday, official data showed that construction work done in Australia fell 0.2% in the second quarter, following a 7.8% increase the previous quarter and compared to expectations for a 1% rise.
Later in the day, the U.S. was to produce revised data on second quarter gross domestic product, followed by an industry report on pending home sales.
NZD/USD hit 0.8055 during late Asian trade, the daily high; the pair subsequently consolidated at 0.8057, adding 0.12%.
The pair was likely to find support at 0.7999, the low of July 2 and resistance at 0.8128, the high of August 13.
Sentiment remained mildly supported after the European Central Bank said on Tuesday that its President Mario Draghi would not be attending an annual symposium in Jackson Hole, Wyoming, on Friday, due to his "heavy workload" in the next few days.
The unexpected announcement fuelled expectations that the ECB is working on policy measures to help stabilize the euro zone's sovereign debt markets, ahead of its next policy meeting on September 6.
The ECB president had been due to speak at the summit on Saturday, one day after a keenly anticipated speech by Federal Reserve Chairman Ben Bernanke, amid ongoing speculation over how close the U.S. central bank is to implementing more stimulus measures.
Investors were also eyeing the release of U.S. economic growth data later in the day, for further indications on the strength of the country’s economic recovery.
The kiwi was steady against the Australian dollar with AUD/NZD easing 0.07%, to hit 1.2885.
Also Wednesday, official data showed that construction work done in Australia fell 0.2% in the second quarter, following a 7.8% increase the previous quarter and compared to expectations for a 1% rise.
Later in the day, the U.S. was to produce revised data on second quarter gross domestic product, followed by an industry report on pending home sales.