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NZDUSD on NZD Trade Balance for +22 pips immediate movement
newdigital, 2013.08.26 07:20
2013-08-25 22:45 GMT (or 00:45 MQ MT5 time| [NZD - Trade Balance]- past data is 374M
- forecast data is 50M
- actual data is -774M according to the latest press release
If actual > forecast = good for currency (for NZD in our case)
==========
New Zealand Posts Biggest July Trade Deficit In 5 Years :
New Zealand recorded a larger-than-expected trade deficit in July, which was also the widest for the month since 2008, amid higher imports and a fall in crude and dairy exports, the latest figures from Statistics New Zealand showed Monday.
The trade balance moved to a deficit of NZ$774 million in July from a surplus of NZ$374 million in June. Economists had forecast a smaller deficit of NZ$16 million. In July 2012, the balance was in a surplus of NZ$98 million.
The value of imports increased to NZ$4.6 billion in July from NZ$3.6 billion in June. This was higher than the expected value of NZ$3.9 billion.
newdigital:
- Recommendation for long: n/a
- Recommendation
to go short: watch the price for crossing 0.7760 support level
- Trading Summary: ranging
0.7760 was not crosse yet :
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0.7760 was not crossed yet
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Chinkou Span line of Ichimoku indicator crossed historical price for primary bearish on D1 timeframe. So, we are having the bearish for NZDUSD. There is ranging bearish on H4 timeframe and flat on H1.
If the price will cross 0.7804 support level on close D1 bar and especially 0.7760 on H4 so we may have bearish trend to be continuing. Anyway, I am expecting the renging market condition for this pair because not so many fundamerntal news events we can see during this week.
UPCOMING EVENTS (high/medium impacted news events which may be affected on NZDUSD price movement for the next week)
2013-08-25 22:45 GMT | [NZD - Trade Balance]
2013-08-29 01:00 GMT | [NZD - NBNZ Business Confidence]
2013-08-29 22:45 GMT | [NZD - Building Permits]
SUMMARY : ranging
TREND : bearish
Intraday Chart