Investing.com – The New Zealand dollar was down against its U.S. counterpart on Monday as concerns about the political unrest in Egypt and weak domestic data hit the currency.
NZD/USD hit 0.7688 during late Asian trade, the pair’s lowest since last Thursday; the pair subsequently consolidated at 0.7725, slipping 0.12%.
The pair was likely to find support at 0.764, the low of January 26 and resistance at 0.7792, Friday’s high.
Earlier in the day, official data showed that New Zealand’s home-building approvals fell to a 23-month low in December. Statistics New Zealand said that permits declined 19% from November, to hit the lowest level since January 2009.
A separate report showed New Zealand’s trade deficit widened unexpectedly in December, after the delivery of a commercial jet offset an increase in exports.
The kiwi was also lower against the euro, with EUR/NZD rising 0.09% to hit 1.7618.
Later in the day, the U.S. was to publish official data on personal consumption expenditure as well as data on personal incomes and spending. The country was also to publish a report on manufacturing growth in Chicago.
NZD/USD hit 0.7688 during late Asian trade, the pair’s lowest since last Thursday; the pair subsequently consolidated at 0.7725, slipping 0.12%.
The pair was likely to find support at 0.764, the low of January 26 and resistance at 0.7792, Friday’s high.
Earlier in the day, official data showed that New Zealand’s home-building approvals fell to a 23-month low in December. Statistics New Zealand said that permits declined 19% from November, to hit the lowest level since January 2009.
A separate report showed New Zealand’s trade deficit widened unexpectedly in December, after the delivery of a commercial jet offset an increase in exports.
The kiwi was also lower against the euro, with EUR/NZD rising 0.09% to hit 1.7618.
Later in the day, the U.S. was to publish official data on personal consumption expenditure as well as data on personal incomes and spending. The country was also to publish a report on manufacturing growth in Chicago.