Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your experience. Save up to 40% More details

Forex - NZD/USD lower despite trade balance data

ForexMar 25, 2013 09:35PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items – The New Zealand dollar has been swinging between gains and losses against its U.S. counterpart during Tuesday’s Asian session and is currently spotted slightly lower against the greenback despite a stronger-than-expected February trade balance report.

In Asian trading Tuesday, NZD/USD is off 0.04% at 0.8349. The pair was likely to find support at 0.8308, the low of March 22 and resistance at 0.8398, the high of February 22.

Earlier today, Statistics New Zealand said reported a NZD414 million trade surplus last month. That follows a NZD287 million deficit in January and tops the February surplus of NZD211 million analysts expected.

For the 12 months ending February 28, New Zealand had a trade deficit of NZD1.08 billion, but that is better than the deficit of NZD1.48 billion analysts expected. The data also show the country’s trade relationship with China continues to blossom.

New Zealand sent NZD787 million in exports to China last month, up from NZD527 million in February 2012. China is already New Zealand’s largest trading partner.

For the month, New Zealand’s exports surged 16.7% to NZD3.91 billion, well above the NZD3.6 billion analysts expected. Imports declined 3.9% to NZD3.49 billion, below the NZD3.55 billion analysts were expecting.

The trade balance data can be viewed as the latest in a series of signals that New Zealand’s economy is on firm footing and that may diminish the chances of a surprise interest rate cut. Traders widely expect the Reserve Bank of New Zealand to leave rates on hold until early 2014 and proceed with an interest rate increase after that.

Elsewhere, NZD/JPY rose 0.08% to 78.71 while AUD/NZD added 0.02% to 1.2535. EUR/NZD is higher by 0.11% at 1.5410.

Forex - NZD/USD lower despite trade balance data

Related Articles

Aussie rallies on improved risk appetite
Aussie rallies on improved risk appetite By Reuters - Dec 07, 2021 1

By Saqib Iqbal Ahmed NEW YORK (Reuters) -Easing Omicron COVID-19 variant worries and a timely booster shot of Chinese stimulus helped lift riskier currencies on Tuesday with the...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other 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, don’t trash it.

  •           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. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. 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’s discretion.

Write your thoughts here
Are you sure you want to delete this chart?
Post also to:
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
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 ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
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