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26 Aug 2013
NZD/USD above 0.7800 despite dismal trade balance release
FXstreet.com (Athens): The NZD/USD dropped to 0.7772 level, after higher goods imports led to a deficit of $774 million.
The value of imported goods rose $676 million (17%) to $4.6 billion in July 2013, compared with July 2012, Statistics New Zealand said today. "Higher goods imports led to a deficit of $774 million, the largest for a July month since 2008," industry and labor statistics manager Louise Holmes-Oliver said. Despite the deteriorating trade number, the pair pared its earlier losses and is now trading very close to its daily high. Investors might consider that the ‘kiwi’ is still sitting on the leading position, after downbeat U.S. home sales on Friday, led some to expect the Fed may delay paring its bond purchases.
Technical outlook on USD/CHF
At the time of writing, the pair is trading at 0.7824 area, up 0.23% and very near its daily highs (0.7835). The FXstreet.com Trend Index shows the pair to be slightly bullish. Daily pivot point support can be found at 0.7733, 0.7713, 0.7694 and resistance at 0.7831, 0.7850 and 0.7870, respectively.
The value of imported goods rose $676 million (17%) to $4.6 billion in July 2013, compared with July 2012, Statistics New Zealand said today. "Higher goods imports led to a deficit of $774 million, the largest for a July month since 2008," industry and labor statistics manager Louise Holmes-Oliver said. Despite the deteriorating trade number, the pair pared its earlier losses and is now trading very close to its daily high. Investors might consider that the ‘kiwi’ is still sitting on the leading position, after downbeat U.S. home sales on Friday, led some to expect the Fed may delay paring its bond purchases.
Technical outlook on USD/CHF
At the time of writing, the pair is trading at 0.7824 area, up 0.23% and very near its daily highs (0.7835). The FXstreet.com Trend Index shows the pair to be slightly bullish. Daily pivot point support can be found at 0.7733, 0.7713, 0.7694 and resistance at 0.7831, 0.7850 and 0.7870, respectively.