New Zealand dollar went down in relation to American dollar. NZD/USD pair is about mark 0.7500.
In the early part of the week there was a noticeable growth of USD in relation to other currencies. It was caused by an exit of final indicators on change of volume of GDP of the USA in the last quarter. Gross domestic product of America was registered by increase for 2,2% against an old index of 2,6%, having justified the predicted growth by 2,2%. The main CPI confirmed expectations, having kept balance on a mark of 1.1%.
It is probable that this week the American dollar will a little lose its positions on the eve of a release of data on employment in the USA for February, it is connected with the fact that traders are in expectation.
At the beginning of a week across New Zealand there was a number of positive news, in particular the publication of data on the import and export prices which was higher than one had expected: -1,80% against -4,5% before it, expectation of -3,1% and 0,20% against -0,10% before it, the forecast of -0,40% respectively. Despite that the exit of an index of trade conditions in New Zealand was published better than expected: -4,4% earlier, the forecast of - 3,0%, nevertheless NZD went down in comparison with the American dollar.
Support level for a currency pair of NZD/USD is now 0.7500. Resistance level — 0.7600. Currency pair is traded in the ascending trend 0.7500-07670.
Recommendations:
NZD/USD continues the slow descending movement towards a correctional point 0.7400 . The rebound from this level will give support to "New Zealander", and will promote a correction level raising to 0.7600. In turn fixing of a course below 0.7400 will give the chance to predict falling of the price to 0.7230.
In the early part of the week there was a noticeable growth of USD in relation to other currencies. It was caused by an exit of final indicators on change of volume of GDP of the USA in the last quarter. Gross domestic product of America was registered by increase for 2,2% against an old index of 2,6%, having justified the predicted growth by 2,2%. The main CPI confirmed expectations, having kept balance on a mark of 1.1%.
It is probable that this week the American dollar will a little lose its positions on the eve of a release of data on employment in the USA for February, it is connected with the fact that traders are in expectation.
At the beginning of a week across New Zealand there was a number of positive news, in particular the publication of data on the import and export prices which was higher than one had expected: -1,80% against -4,5% before it, expectation of -3,1% and 0,20% against -0,10% before it, the forecast of -0,40% respectively. Despite that the exit of an index of trade conditions in New Zealand was published better than expected: -4,4% earlier, the forecast of - 3,0%, nevertheless NZD went down in comparison with the American dollar.
Support level for a currency pair of NZD/USD is now 0.7500. Resistance level — 0.7600. Currency pair is traded in the ascending trend 0.7500-07670.
Recommendations:
NZD/USD continues the slow descending movement towards a correctional point 0.7400 . The rebound from this level will give support to "New Zealander", and will promote a correction level raising to 0.7600. In turn fixing of a course below 0.7400 will give the chance to predict falling of the price to 0.7230.
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