NZD/USD unchanged on mildly bullish trade balance

By FXStreet FXStreet (Guatemala) – NZD/USD is steady after the release of the NZ trade balance in a consolidated market place. The trade numbers were mildly positive $-3.679b vs $-3.76 expected y/y while m/m came as $-779m vs $-809.5m and improved on previous $-963.0m.

Price action wise, nothing on the release, but the bird has had its wings clipped meeting resistance at 0.6835 on the minor recovery from 0.6688. The psychological 0.6800 level is supporting for the time being having been in a drift overnight from aforementioned highs.

As for the outlook as we head towards 2016 business, analysts at Westpac mentioned earlier that the New Zealand economy was losing momentum and are predicting that the RBNZ will indeed have to cut rates again.

Last Friday, FXStreet hosted a special event about what 2016 might hold for the Forex traders. The panelists were Ashraf Laidi, Boris Schlossberg, Adam Button and Valeria Bednarik. Today, we want to share with you the recording of the whole show. Watch now and look out for commentary around the Fed and the possible headwinds from China in the currency wars.

Adam Button, MD at Forexlive said, “Central bankers are trying to fight low commodity prices …read more

Source:: FX Street