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27 Feb 2015
NZD/USD suffering but holding form on 0.75 handle
FXStreet (Guatemala) - NZD/USD is currently trading at 0.7521 with a high of 0.7538 and a low of 0.7513.
NZD/USD is proving to be relatively resilient to some some extent having been less burnt by the greenback than its comrades, such as the Aussie and the loonie, both suffering big figures to the US dollar in the US session. The kiwi kept within a cent, just about, on the greenbacks onslaught and was likely propped up to some degree by the recent positive data releases in New Zealand.
The trade data was good yesterday for Jan vs Dec with the decline in imports that helped NZ record a trade surplus of NZ$56m in Jan. In annual terms, the trade gap widened to a deficit of $1.4b but less the NZ$1.6b the market was expecting. Also, as analysts at TD Securities noted, "Fonterra announced it is sticking with its NZ$4.70/kg farmgate milk price f/c for the 2014/15 season. With the announced estimated dividend, this amounts to a forecast cash payout of NZ$4.95-$5.05."
NZD/USD is proving to be relatively resilient to some some extent having been less burnt by the greenback than its comrades, such as the Aussie and the loonie, both suffering big figures to the US dollar in the US session. The kiwi kept within a cent, just about, on the greenbacks onslaught and was likely propped up to some degree by the recent positive data releases in New Zealand.
The trade data was good yesterday for Jan vs Dec with the decline in imports that helped NZ record a trade surplus of NZ$56m in Jan. In annual terms, the trade gap widened to a deficit of $1.4b but less the NZ$1.6b the market was expecting. Also, as analysts at TD Securities noted, "Fonterra announced it is sticking with its NZ$4.70/kg farmgate milk price f/c for the 2014/15 season. With the announced estimated dividend, this amounts to a forecast cash payout of NZ$4.95-$5.05."