New Zealand Dollar Trades Lower on Disappointing Trade Data


New Zealand Dollar Talking Points:

  • New Zealand’s January trade balance read -914 million New Zealand Dollars versus an expected deficit of -300 million
  • Learn to trade news events like this one with our Trade the News Trading Guide

See how IG clients are positioned on the Dow, Crude oil and the US Dollar with our free IG Client Sentiment Data.

The New Zealand Dollar traded lower across the board late Tuesday as disappointing trade data crossed the wires. New Zealand’s January trade balance read -914 million New Zealand Dollars, notably higher than the expected deficit of -300 million. Compared to the month prior, New Zealand’s trade deficit increased by more than 1 billion New Zealand Dollars.

New Zealand Dollar Price Chart: 1-Minute Time Frame (February 26) (Chart 1)

New Zealand Dollar Trades Lower on Disappointing Trade Data

While the New Zealand Dollar initially traded lower on the news, NZDUSD subsequently mounted a rebound to seemingly steady off near 0.6891.

Check back here for updates as the story develops…

–Written by Peter Hanks, Junior Analyst for DailyFX.com

Contact and follow Peter on Twitter @PeterHanksFX

Read more: Crude Oil Price May Falter as IEA Forecasts Supply Swamp

DailyFX forecasts on a variety of currencies such as the US Dollar or the Euro are available from the DailyFX Trading Guides page. If you’re looking to improve your trading approach, check out Traits of Successful Traders. And if you’re looking for an introductory primer to the Forex market, check out our New to FX Guide.





Source link



Leave a Reply

error: Content is protected !!