Breaking News

Forex - Kiwi surges vs. dollar after N.Z. trade surplus report

ForexMay 27, 2010 04:15AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items

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, NZD/USD 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, NZD/JPY 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.

Forex - Kiwi surges vs. dollar after N.Z. trade surplus report

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Post also to:
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Post 1000
Please wait a minute before you try to comment again.
Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Add Chart to Comment
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.
Continue with Google
Sign up with Email