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

RELATED QUOTES

SymbolPriceChange
NZDUSD=X0.6340-0.0006

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.
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MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.128-0.002-1.54%
    5DN.SI
    0.315+0.005+1.61%
    5WA.SI
    0.52-0.03-4.59%
    N21.SI
    3.71-0.03-0.80%
    Z74.SI
    0.70-0.02-2.78%
    5ME.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.20+0.02+11.11%
    5G1.SI
    0.22+0.02+10.00%
    AZR.SI
    0.22+0.02+7.32%
    5FL.SI
    0.79+0.05+6.76%
    41E.SI
    0.128+0.008+6.67%
    PH0.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.25-0.06-18.03%
    578.SI
    0.205-0.045-18.00%
    5NF.SI
    0.158-0.033-17.28%
    L02.SI
    0.112-0.021-15.79%
    40U.SI
    0.205-0.030-12.77%
    R14.SI