New Zealand Dollar Down Late After China Data Dissapoints

 
   By Lucy Craymer 
 

        WELLINGTON, New Zealand--The New Zealand dollar was trading lower late Thursday having come under pressure during the Asian session following disappointing China manufacturing data.
        Chinese factory activity fell to its lowest level in six months in November, according to the reading released on Thursday by HSBC Holdings PLC and data provider Markitone. The reading showed Chinese factory activity has been flat this month. New exports orders, a rare bright spot in recent months, also weakened, along with employment, although new orders overall showed some improvement.
        Western Union Business Solutions Corporate Dealing Manager Chris Hunter said that the data had weighed on commodity currencies such as the New Zealand dollar as it increased concerns about economic growth in New Zealand's largest trading partner.
        In late Wellington trading, the New Zealand dollar was at US$0.7845 versus US$0.7867 late Wednesday. It was at A$0.9123 versus A$0.9080.
        Mr. Hunter said overnight the New Zealand dollar would continue to be driven by offshore factors with U.S. inflation data due out later in the global day.
        Write to Lucy Craymer at lucy.craymer@wsj.com, @lucy_craymer
        (END) Dow Jones Newswires

        November 20, 2014 00:00 ET (05:00 GMT)

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