Thu, Feb 25, 2021 @ 10:40 GMT
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New Zealand trade surplus at NZD 217m in Feb, import hits Feb record high, NZD broadly higher

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.

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