We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
More View more
Real Time News
  • Fed's Barkin: - Stock market not reacting to certain events is surprising $DXY $VIX
  • Fed's Barkin: - Coronavirus injecting a lot of uncertainty - Logistics in China making it hard to get manufacturing restarted $USDCNH
  • US #equity futures are marginally lower, with the #Dow Jones down 0.1%. However, despite the investor angst over the rising spread of the #Coronavirus, US equities have generally remained relatively robust. Get your market update from @JMcQueenFX here: https://t.co/QszmxFnYpt https://t.co/a77cCZFQ3B
  • Fed's Barkin: - US economy pacing well - Investment should recover with reduced uncertainty around trade $DXY $SPX
  • RT @TheBubbleBubble: World government debt to hit record $53 trillion this year: S&P Global: https://t.co/8cwkXqiI6j $TLT $IEF
  • #Oil prices find support as market angst around the novel #coronavirus outbreak dissipate and prospects for more production cuts from #OPEC grow, but the rebound in crude could be short-lived. (via @DailyFX) Full Analysis: https://www.dailyfx.com/forex/technical/home/analysis/usoil/2020/02/20/crude-oil-extends-support-bounce-on-opec-as-virus-fears-abate.html $USO $CL_F #OOTT #CrudeOil #WTI https://t.co/W3zkXjuqf5
  • $USDJPY rises to highest level since April 24th https://t.co/0xPjuttP9i
  • $USDCNH overtaking 7.0500 holds a lot of ancillary risk. Is this purely a Dollar move or perhaps coronavirus fallout for the Yuan? Will the White House consider it just a Dollar result or a trade war infraction (manipulation)? https://t.co/JRnXBdjaE8
  • I don't think $SPY is out of the woods yet - - Deeper 3m10s inversion - $AUDUSD breakdown - $XAU breakout And a plethora of weak economic data and other fundamental concerns. But if anything can shrug off these headwinds it's the current rally https://t.co/P4jqIGjd12
  • If you don't follow @JStanleyFX and his analysis, you don't know what you're missing. https://t.co/3hz3xetoVW
NZ Dollar Slightly Weaker on Wider-Than-Expected Current Account Deficit

NZ Dollar Slightly Weaker on Wider-Than-Expected Current Account Deficit

2011-12-20 22:20:00
Lujia Lin,

THE TAKEAWAY: New Zealand third quarter current account deficit worse than expected > Data reflects effects of Asia slowdown and Eurozone-related uncertainty > NZD lower

The Kiwi was slightly lower after worse-than-expected current account data provided further evidence that the uncertain external environment is taking its toll on New Zealand’s export-dependent economy. Minutes after the release, the currency was down to 76.76 US cents from 76.85 US cents. However, the NZD still closed the trading day up 1.8 percent on the backs of a broad rally in risk-correlated assets.

NZ_Dollar_Slightly_Weaker_on_Wider-Than-Expected_Current_Account_Deficit_body_Picture_5.png, NZ Dollar Slightly Weaker on Wider-Than-Expected Current Account Deficit

Charts generated using Strategy Trader

According to Statistics New Zealand, the island economy’s current account deficit widened to NZ$4.599 billion from NZ$0.844 billion in the 3rd quarter, confounding estimates for a NZ$3.75 billion deficit. The figures also reported a goods and services trade deficit of NZ$1.7 billion. For the year to the September 30, the current account deficit was 4.3 percent of GDP.

Tuesday’s trade figures reflect the effects of the external slowdown on the economy, which relies on exports for close to a third of its overall output. The recent cooling of the Chinese economy – the top destination for New Zealand’s dairy and commodity exports – and the ongoing uncertainty created by the Eurozone crisis, have both clouded prospects that export growth would help lead the country’s economic recovery from the February Christchurch earthquake. The domestic situation is also concerning, with this week’s Westpac Consumer Confidence survey showing a sharp drop in sentiment and the NBNZ gauges for activity outlook and business confidence similarly reflecting a bleaker outlook.

On the docket for Wednesday are the 3rd quarter GDP figures. Consensus estimates predict growth to accelerate to 0.6 percent from 0.1 percent on a quarterly basis, or 2.2 percent year-over-year. However, any acceleration in growth will reflect one-time factors related to the Rugby World Cup and are unlikely to provide a longer-term boost to the Kiwi.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.


News & Analysis at your fingertips.