The NZD repeated it’s efforts from yesterday by jumping from an intraday low of 0.68214 to a high of 0.68596, before climbing back down again to open at 0.68299 against the USD this morning. The climb can be attributed to the positive Trade Balance data released by the Statistic New Zealand yesterday morning. Showing the difference in value between imported and exported goods, it came back higher than it’s forecast of 225M, at 264M. This was a positive for the currency as export demand and currency demand are directly linked, and foreigners must buy the domestic currency to pay for the nations exports.
In terms of releases in the near future, Statistics New Zealand will release their employment change and unemployment rate data late next week. Expected to have a major impact on the Kiwi, these releases showcase the change in number of employed people and percentage of work force that is unemployed.