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

RELATED QUOTES

SymbolPriceChange
NZDUSD=X0.66920.00

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
    0.156-0.009-5.45%
    5DN.SI
    0.300.000.00%
    5WA.SI
    0.189+0.001+0.53%
    5MC.SI
    0.865+0.015+1.76%
    N03.SI
    0.4150.0000.00%
    E5H.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.55+0.09+20.88%
    BAJ.SI
    0.515+0.075+17.05%
    AWV.SI
    0.215+0.031+16.85%
    AZR.SI
    0.22+0.03+15.79%
    AZT.SI
    0.54+0.06+12.50%
    AWZ.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.06-0.06-50.00%
    5TW.SI
    0.09-0.03-25.00%
    40R.SI
    0.31-0.09-22.50%
    AVW.SI
    0.10-0.02-15.25%
    5I1.SI
    0.33-0.05-13.16%
    5UL.SI