Status of New Zealand's economy, export-oriented, is gradually improving. On this according to data presented yesterday on the New Zealand trade balance for January (8.0 million New Zealand dollars against a deficit forecast of growth by 245.5 million). Exports thus grew by 3.9 billion New Zealand dollars against the forecast of 3.74 billion and 4.43 billion on growth in the previous month.
Positive dynamics of the global stock indices and rising oil and commodity prices have allowed the pair NZD / USD strengthened significantly in recent years.
Doubts about the next increase interest rates in the US in March, expressed in statements by the Fed this week, gave additional upward momentum of the pair NZD / USD.
Trading on the global financial markets against the backdrop of a meeting today of representatives of Big Twenty in Shanghai, the main themes of which will be to discuss the situation of slower growth the Chinese and world economy, the dynamics of interest rates, falling oil prices and commodity prices, and a reduction in world trade.
Incentive measures taken in China also improved investor sentiment towards riskier assets and commodity currencies, including to the New Zealand dollar, as China is the largest trading partner of New Zealand.
From the news today, we are waiting for US data, leaving the block from 13:30 to 18:00 (GMT).
Positive data (the second estimate of US GDP for the 4th quarter with a forecast growth of 0.4% in addition to an increase of 0.7% in the previous quarter, the balance of trade in goods in January, and inflation indices - domestic prices of acquisitions in the 4th quarter, personal spending in January, the consumer confidence index from Reuters / Michigan for February (forecast to rise to 91.0 against 90.7 in January index) will strengthen the US dollar in the market, including in the pair NZD / USD.
Technical analysis and trading recommendations - https://fxpcm.com/fx/nzd-usd-near-strong-resistance-level-26022016