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Positive Data Sends the New Zealand dollar Higher

Posted by WorldWideMarkets . on Aug 16, 2013 3:33:00 AM
New Zealand data continues to prop up the currency with the New Zealand dollar now bumping up against the 100-day simple moving average of 0.8375 for the first time since slipping below on May 10. Latest data of note, July job advertisements increase 3.5 percent month over month, July manufacturing PMI posts at 59.5, up from a revised 55.2 in June, and August consumer confidence increased 2.7 percent month over month. Can it be sustained? Probably not but troubles with milk exports are looking like they will be a blip.  The New Zealand dollar is up 1.1 percent this month against the U.S. dollar behind only the British pound, up 2.5 percent and the Australian dollar, up 1.9 percent, in the list of 36 most actively traded currencies against the dollar. kiwi trading

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