LimitMarkets

Kiwi boosted by strong data

Long
FX:NZDUSD   New Zealand Dollar / U.S. Dollar
Pair surged after the official data showed better-than-expected May trade surplus and record exports. Exports rose to $5.8 billion in May, an 8.5 percent from a year earlier, with imports rising 7.6 percent to $5.5 billion. The surplus accounted for $264 million beating expectations for $200 million. The dollar plunged against most of the peers. Trump blamed Fed Chair Powell for withholding the US economy from reaching its full potential. RSI is approaching upper band for an overbought area. Kiwi could benefit from Fed dovishness later today. The new high around 0.6800 is in sight.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.