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The Kiwi weakened against the Greenback, following New Zealand's trade balance report released on Sunday. The NZD/USD currency pair lost four pips, or 0.05%, in the first five minutes after the release, contradicting with the positive data.
The Statistics New Zealand revealed better-than-expected trade balance data, but that was not enough to cause a significant move on the market; in fact, it created a downward move. New Zealand reported a trade surplus of 217M in February, exceeding the forecasts of a 100M deficit. One of the main reasons that created the excess in trade balance was the increase of edible offals and meat exports to all major partners overseas.
| Historical Data Table: New Zealand's Trade Balance m/m | Economic Calendar for 26.03.2018 | ||||||||
| Date | 23.11.2017 | 19.12.2017 | 29.01.2018 | 26.02.2018 | 29.01.2018 | 4:30 PM | FOMC Member Dudley Speaks | ||
| Actual | -871M | -1193M | 596M | -655M | 217M | 8:30 PM | FOMC Member Mester Speaks | ||
| Forecast | -750M | -495M | -125M | -2710M | -100M | 11:10 PM | FOMC Memb. Quarles Speaks | ||
| Initial Reaction on Main Pairs | SWFX Sentiment Indexes | ||||||||
| Open Price | Close Price | % Change | Longs | Shorts | |||||
| AUD/NZD | 1.06402 | 1.06459 | 0.05% | AUD/NZD | 72.76% | 27.24% | |||
| EUR/NZD | 1.70706 | 1.70788 | 0.05% | EUR/NZD | 26.53% | 73.47% | |||
| GBP/NZD | 1.95352 | 1.95466 | 0.06% | GBP/NZD | 39.94% | 60.06% | |||
| NZD/USD | 0.72426 | 0.72387 | -0.05% | NZD/USD | 36.93% | 63.07% | |||