News & Analysis at your fingertips.

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.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Mixed
Oil - US Crude
Mixed
Wall Street
Bullish
Gold
Mixed
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • 🇩🇪 Balance of Trade (JAN) Actual: €14.3B Previous: €14.8B https://www.dailyfx.com/economic-calendar#2021-03-09
  • 🇩🇪 Balance of Trade s.a (JAN) Actual: €22.2B Expected: €16.4B Previous: €16.1B https://www.dailyfx.com/economic-calendar#2021-03-09
  • Brush up your knowledge on #tradewars with this tool from DailyFX research briefly outlining trade-war history dating back to the early 1900s here: https://t.co/ZWaL6laTU5 https://t.co/1gdOjST2dn
  • Heads Up:🇩🇪 Balance of Trade s.a (JAN) due at 07:00 GMT (15min) Expected: €16.4B Previous: €16.1B https://www.dailyfx.com/economic-calendar#2021-03-09
  • Heads Up:🇩🇪 Balance of Trade (JAN) due at 07:00 GMT (15min) Previous: €14.8B https://www.dailyfx.com/economic-calendar#2021-03-09
  • (Commodities Briefing) Silver Broke Key Trendline? WTI Brushed Aside Saudi Arabian Oil Facility Attack #Silver #CrudeOil #XAGUSD #USD https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/commodities/2021/03/09/Silver-Broke-Key-Trendline-WTI-Brushed-Aside-Saudi-Arabian-Oil-Facility-Attack.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/ct7xKeuru8
  • Nasdaq futures rally as much as 1.4% and Asian stocks stabilize after China intervenes to halt accelerating equity meltdown - BBG
  • Central banks often deem it necessary to intervene in the foreign exchange market to protect the value of their national currency. Learn how central bank intervention can impact your trading here: https://t.co/8G8mUX4so6 https://t.co/M2XQ1iECkp
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.71%, while traders in Germany 30 are at opposite extremes with 83.25%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/L6cATe5MLN
  • Singapore stock market saw S$ 361 million net institutional inflow last week, with DBS, OCBC and UOB among fund managers' top pick. This follows S$ 352.8 million net institutional inflow in the prior week. https://t.co/6YUe7CzxqV
Forex News: New Zealand Dollar Extends Gain on Trade Surplus

Forex News: New Zealand Dollar Extends Gain on Trade Surplus

Robin Leung,

The Takeaway: New Zealand trade balance posted a trade surplus of 414M in February -> Exports to China rose by 49 percent -> New Zealand dollar extends gain.

New Zealand trade balance posted a trade surplus of 414M in Februaryversus an upwardly revised trade deficit of -287M in January, which came in well above expectation set for -12M.

Exports exceeded imports in February, in which value of exported goods increased by 8.0 percent (MoM) to 3.91B, while imports increased by 2.5 percent (MoM) to 3.49B. The driving force behind the surplus is the strong demand from China, which posted a 49 percent increase in exported goods to the second largest economy, according to statistics New Zealand.

Although the New Zealand dollar is underpinned by the upbeat gross domestic productivity figures, Reserve Bank of New Zealand (RBNZ)’s Governor Graeme Wheeler stated in a press release last week that the overvalued New Zealand dollar is hurting export and import competing companies.

In US trading on Monday, the New Zealand dollar surged against the euro as unknown losses on Cyprus’s uninsured depositors and terms on bank restructuring dragged the euro lower, which sent the EUR/NZD to 1.53738, the lowest level since August 2012. Upon the release, the so-called Kiwi extended gain and the EUR/NZD reached as low as 1.53645. However, the gain of the kiwi has urged FX traders to take profits, thereby sending the EUR/NZD 28 pips higher from its 7-month low mark.

EUR/NZD 1 Minute Chart

Forex_News_New_Zealand_Dollar_Extends_Gain_on_Trade_Surplus_body_Picture_1.png, Forex News: New Zealand Dollar Extends Gain on Trade Surplus

Chart Created by Robin Leung using Marketscope 2.0

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

DISCLOSURES