NZD trades generally higher in Asian session after trade balance data.
Accord to Stats NZ Tatauranga Aotearoa, for February 2018 compared with February 2017:
- Goods exports rose NZD 446 million (11%) to NZD 4.5 billion.
- Goods imports rose NZD 187 million (4.6%) to NZD 4.2 billion, a new high for total imports in a February month. The previous high was NZD 4.1 billion, in February 2017.
- The monthly trade balance was a surplus of NZD 217 million (4.9% of exports).
NZD is trading higher together with commodity currencies in general, as seen in daily heatmap.
Against Dollar, NZD/USD extends the rebound from 0.7152 and reaches as high as 0.7276 so far. Further rise is now mildly in favor to 0.7354 resistance.
From the daily chart, NZD/USD has been in consolidation since hitting 0.7436. Firm break of 0.7354 will now be a strong signal of resumption of medium term rise from 0.6779.
