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NZDUSD Climbs to 0.7600 from 0.7540 on Trade Balance Data

Posted by Chris Advincula on Feb 26, 2015 8:03:00 AM

NZD.2.26 resized 600Chart: WorldWideMarkets Alpha Trader

The New Zealand Dollar made steady gains in both Asia and Europe after the better than expected NZ January Trade Surplus of NZ$ 56mio versus the forecast of -NZ$ 162mio. (Previous -NZ$ 159mio). Kiwi rose to 0.7615 from 0.7540 in the European session. (+75 pips)

New Zealand's Annual Migration & Visitors also hit record gains in January.

Fonterra's auction yesterday kept its 2014/2015 milk payout to farmers at NZ$4.70 per kgm. Fonterra noted the auction demand was not sufficient to raise the farmgate milk price at this time. The kiwi dollar traded at 0.7530 yesterday 14:00 GMT after the Fonterra data.

Topics: forex trading, European Session, Fundamental Analysis, New Zealand dollar, NZDUSD

 

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