Forex News: NZD/USD Holds Steady at New Zealand Trade Balance Surplus

RELATED QUOTES

SymbolPriceChange
NZDUSD=X0.7679-0.0005

THE TAKEAWAY:NZD Trade Balance (Dec) > $+486m versus $-105m expected, from $-700m > Technical Picture Still Grey For Kiwi > NZDUSD Neutral

The Kiwi continues its correction off 0.8275 lows, now extending as high as 0.8350 resistance, following improved trade balance data in New Zealand. New Zealand reported a $486 million trade surplus in December compared to Novembers $700 million. Markets expected a $105 million deficit. Exports were up to $407 billion versus $3.98 billion, while imports were down at $3.54 billion versus $4.07 billion.

The technical picture is still grey for the interest of longs Kiwi. Only a recovery and subsequent hold above the 0.8350 may shift the focus to round 0.84.

NZDUSD 1-minute Chart: January 28, 2013

NZD_Trade_Surplus_body_Picture_1.png, Forex News: NZD/USD Holds Steady at New Zealand Trade Balance Surplus

Chart from FXCM Trading Station, created by Courtney Edwards

The NZD/USD held steady after New Zealand’s trade balance rose more than expected. There was a 20 pip rise in the Kiwi as New Zealand reported the surplus.

--- Written by Courtney Edwards, DailyFX Research

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.

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MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.2350.0000.00%
    5GB.SI
    0.290.000.00%
    5WA.SI
    0.199+0.001+0.51%
    5OU.SI
    0.205+0.024+13.26%
    B0Z.SI
    0.885+0.010+1.14%
    N21.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.205+0.024+13.26%
    B0Z.SI
    0.117+0.013+12.50%
    41S.SI
    0.78+0.08+11.43%
    AUE.SI
    0.49+0.05+11.36%
    UV1.SI
    0.199+0.018+9.94%
    K22.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.141-0.023-14.02%
    5RC.SI
    0.186-0.029-13.49%
    5TS.SI
    0.139-0.016-10.32%
    5MD.SI
    0.235-0.025-9.62%
    ACW.SI
    0.105-0.010-8.70%
    J8O.SI