Free Trial

Holds Marginal Gains After Trade Data

NZD

New Zealand's trade deficit widened in June, the 12-month ytd deficit widened to NZD 252m from a revised NZD 41m. Exports rose to NZD 5.95bn while imports rose to NZD 5.69b. Looking at thre breakdown by country China remains the biggest trading partner with exports rising to NZD 1.899bn from NZD 1.833bn.

  • NZD/USD unmoved after the data, last up 5 pips at 0.6979, key near-term support has been defined at $0.6881/76, which represent Jul 20 low/61.8% retracement of the Sep 24 - Feb 25 rally. Bulls look for renewed gains past Jul 15 high of $0.7045, which would give bulls a green light for targeting Jul 7 high of $0.7061.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.