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12 Feb 2014
NZD/USD hits fresh weekly highs after Chinese data
FXStreet (Córdoba) - The NZD/USD jumped 30 pips in a few minutes to 0.8349, the highest price since January 17, after the release of trade data from China. Since the American session the pair was moving with a bearish bias, trimming weekly gains but after the trade report soared, reversing directions.
The trade balance in China showed a much larger than expected trade surplus: $31.86B vs $23.65B. Exports and imports rose 10.3% and 10% respectively surpassing expectations.
At the moment of writing the NZD/USD remains near the highs, trading at 0.8340 up 0.19% for the day, headed toward the fifth daily gain out of the last seven days, period in which it has accumulated a gain of more than 250 pips.
The trade balance in China showed a much larger than expected trade surplus: $31.86B vs $23.65B. Exports and imports rose 10.3% and 10% respectively surpassing expectations.
At the moment of writing the NZD/USD remains near the highs, trading at 0.8340 up 0.19% for the day, headed toward the fifth daily gain out of the last seven days, period in which it has accumulated a gain of more than 250 pips.