Investing.com – The kiwi jumped against the U.S. dollar on Thursday, erasing some of its recent losses, after official data showed the country’s trade surplus widened more than expected in April.
During late Asian trade, advanced 1.37% to hit 0.672. The pair was likely to find support at 0.6561, Tuesday’s low and a 10-month low, and short-term resistance at 0.6817, last Thursday’s high.
Earlier in the day a report by New Zealand’s statistics office said the country’s surplus in April rose to NZD 646 million, up from NZD 590 million in March, whose figure was revised upwards from NZD 567.
Economists had expected April’s figure to come in at NZD 455 million.
The data took New Zealand’s annual trade balance into the black for the first time since July 2002.
The kiwi also surged versus the yen, shot up 1.78% to hit 60.67.
Later in the day, the U.S. was due to release data on initial jobless claims, a key indicator of overall economic health. The country was also scheduled to publish a report on its gross domestic product, the broadest measure of economic activity.
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data .
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.