The New Zealand dollar rose today, getting help from positive domestic macroeconomic data.
The New Zealand current account logged a surplus of NZ$1.31 billion (not seasonally adjusted) in the March quarter of 2016 that has exceeded analysts’ expectations. Now, traders wait for today’s meeting of the US Federal Reserve and tomorrow’s GDP report from New Zealand. Experts predict that the data will show that growth of the New Zealand economy has slowed from 0.9% in Q4 2015 to 0.5% in Q1 2016.
NZD/USD gained from the open of 0.6993 to 0.7028 as of 8:23 GMT today after falling to 0.6962 earlier during the current trading session. NZD/JPY rose from 74.20 to 74.68 following the drop to 73.80.
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