New Zealand dollar traded on lower levels against its US counterpart on Friday after the release of building permits data in New Zealand.
NZD/USD fell to a session low at 0.7756 during Asian trade, after which consolidated at 0.7790. Support was expected at June 26th low, 0.7718, while resistance was to be met at June 20th high, 0.7890.
Earlier on Friday, statistics showed that building permits in New Zealand rose by 1.3% to seasonally adjusted 1.818 in May, which was a significantly weaker result in comparison with April, when the indicator pointed a 21.0% increase, according to revised data. Experts had projected a drop by 3.9%.
Additionally, another report showed earlier in the week that New Zelands trade balance surplus shrank unexpectedly in May to 71 million NZD from a surplus of 174 million in April.
Last but not least, NZ Business confidence rose to 50.1 in June from a reading of 41.8 in May, as shown earlier this week.
NZD/JPY pair advanced 0.24% to 76.86, following Ministry of Internal Affairs and Communications statement, that Japan’s unemployment rate remained unchanged in May at 4.1%, slightly above expectations of a 4.0% rate.
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