New Zealand dollar traders – trade balance data coming up at 2145GMT via ForexLive

Coming up soon from New Zealand, the October trade balance data at 2145GMT:

• Trade balance, expected is -642m, prior was -1350m
• Exports, expected is 4.60bn, prior was 3.61bn
• Imports, expected is 4.60bn, prior was 4.97bn

Plane imports helped the trade balance hit a big deficit for September, and these are expected to continue but not in these October figures.

The trade data is usually only of limited interest to the FX market, with minimal impact (normally).

• For the NZD/USD, there is resistance 0.7890/0.7900 then 0.7945/50.
• Support initially 0.7855 then 0.7840, better 0.7800/10 ……… I'll get a better look at the order book soon for more

posted via ForexLive