FXStreet (Córdoba) – For the first time since the beginning of the week, NZD/USD has been able to hold above multi-year lows. The pair currently trades around 0.6855/65, at the same level it closed yesterday.
Price moved most of the day with an upside bias, recovering after falling yesterday to 0.6813. During the European session peaked at 0.6897, a 2-day high but then pulled back, erasing gains. It dropped slightly below 0.6850 but then bounced toward current levels.
US data on Thursday, NZ Trade balance on Friday
Today’s economic reports from the US showed a positive revision of”> US 1Q GDP, in line with expectations. Tomorrow jobless claims data and the personal income and spending numbers will be released.
In New Zealand, no major reports are due on Thursday while on Friday trade balance data from May will be released. “May is seasonally the second-highest strong month for exports, implying a “usual” solid trade surplus month. However, with dairy prices in decline and the imported fuel bill rising, TD and market expect a modest deficit”, wrote analysts from TD Securities.
(Market News Provided by FXstreet)