Investing.com - The New Zealand dollar edged lower against its U.S. counterpart on Wednesday, after data showed that New Zealand's trade deficit narrowed unexpectedly in October, while speculation over the future of the Federal Reserve's stimulus program persisted.
NZD/USD hit 0.8169 during late Asian trade, the session low; the pair subsequently consolidated at 0.8188, easing 0.10%.
The pair was likely to find support at 0.8096, the low of September 13 and resistance at 0.8265, Tuesday's high.
Official data earlier showed that New Zealand's trade deficit narrowed to NZD168 million last month, from NZD216 million in September. Analysts had expected the trade deficit to expand to NZD345 million in October.
Meanwhile, the release of mixed U.S. economic data on Tuesday did little to shift expectations that the Federal Reserve will start to taper its stimulus program at one of its next few meetings.
Data showed that U.S. consumer confidence unexpectedly fell to seven month low in November, but a separate report showed that the number of building permits issued in the U.S. rose to the highest level in five years in October.
The kiwi was lower against the euro with EUR/NZD edging up 0.11%, to hit 1.6580.
Later in the day, the U.S. was to release reports on durable goods orders and manufacturing activity in the Chicago area, as well as the weekly report on initial jobless claims. The Labor Department report was being released one day early due to the U.S. holiday.
NZD/USD hit 0.8169 during late Asian trade, the session low; the pair subsequently consolidated at 0.8188, easing 0.10%.
The pair was likely to find support at 0.8096, the low of September 13 and resistance at 0.8265, Tuesday's high.
Official data earlier showed that New Zealand's trade deficit narrowed to NZD168 million last month, from NZD216 million in September. Analysts had expected the trade deficit to expand to NZD345 million in October.
Meanwhile, the release of mixed U.S. economic data on Tuesday did little to shift expectations that the Federal Reserve will start to taper its stimulus program at one of its next few meetings.
Data showed that U.S. consumer confidence unexpectedly fell to seven month low in November, but a separate report showed that the number of building permits issued in the U.S. rose to the highest level in five years in October.
The kiwi was lower against the euro with EUR/NZD edging up 0.11%, to hit 1.6580.
Later in the day, the U.S. was to release reports on durable goods orders and manufacturing activity in the Chicago area, as well as the weekly report on initial jobless claims. The Labor Department report was being released one day early due to the U.S. holiday.