Investing.com - The New Zealand dollar edged lower against its U.S. counterpart on Wednesday, after the release of mixed economic reports from New Zealand, while investors eyed the Federal Reserve's upcoming policy statement.
NZD/USD hit 0.8242 during late Asian trade, the session low; the pair subsequently consolidated at 0.8255, slipping 0.21%.
The pair was likely to find support at 0.8204, the low of December 13 and resistance at 0.8320, the high of December 12.
Data earlier showed that the ANZ business confidence index for New Zealand rose to a nearly 15-year high of 64.1 in December, from a reading of 60.5 in November.
A separate report showed that New Zealand's current account deficit widened to NZD4.78 billion in the third quarter, from NZD1.34 billion in the three months to June. Analysts had expected the current account deficit to widen to NZD4.45 billion in the last quarter.
Meanwhile, investors remained wary ahead of the outcome of the Fed’s final policy meeting of the year, with some expecting the bank to announce a small reduction in the pace of its USD85 billion-a-month asset purchase program.
However, many believe that the bank will wait until early next year to start rolling back stimulus, despite recent indications the U.S. economic recovery is deepening.
The kiwi was also lower against the euro, with EUR/NZD adding 0.23% to 1.6682.
Later in the day, the U.S. was to release data on building permits and housing starts.
NZD/USD hit 0.8242 during late Asian trade, the session low; the pair subsequently consolidated at 0.8255, slipping 0.21%.
The pair was likely to find support at 0.8204, the low of December 13 and resistance at 0.8320, the high of December 12.
Data earlier showed that the ANZ business confidence index for New Zealand rose to a nearly 15-year high of 64.1 in December, from a reading of 60.5 in November.
A separate report showed that New Zealand's current account deficit widened to NZD4.78 billion in the third quarter, from NZD1.34 billion in the three months to June. Analysts had expected the current account deficit to widen to NZD4.45 billion in the last quarter.
Meanwhile, investors remained wary ahead of the outcome of the Fed’s final policy meeting of the year, with some expecting the bank to announce a small reduction in the pace of its USD85 billion-a-month asset purchase program.
However, many believe that the bank will wait until early next year to start rolling back stimulus, despite recent indications the U.S. economic recovery is deepening.
The kiwi was also lower against the euro, with EUR/NZD adding 0.23% to 1.6682.
Later in the day, the U.S. was to release data on building permits and housing starts.