Key updates from the latest New Zealand data releases:
1) NZ trade balance for August: 353 million NZD (Expected: 350 million NZD and Prior: 282 million NZD)
2) Exports: 4.41billion NZD (Expected: 4.41 billion NZD and Prior: 4.91 billion NZD)
3) Imports: 4.76 billion NZD (Expected: 4.76 billion NZD and Prior: 4.63 billion NZD)
Despite this encouraging data, the NZD USD has dipped 1.28% yesterday – charting the biggest daily decline since August 7 and third consecutive day decline. This is attributed to the fight the USD is giving of late on the back of broad-based US dollar demand.
A double top seems to be forming in this pairing – is that the bear coming up on the horizon, now? The money's in that question, for sure.
Disclaimer: The views expressed are solely those of the author and do not represent the official position of Followme. Followme does not take responsibility for the accuracy, completeness, or reliability of the information provided and is not liable for any actions taken based on the content, unless explicitly stated in writing.
Leave Your Message Now