NZD Current Account

New Zealand current account released helped the NZD move up from its recent drop against the Yen. After yesterday's better than expected trade balance numbers, traders wasted no time in longing the pair. The forecast was -2.47 billion and the actual figure was released at a moderate -2.22B. This helped the NZD move up to the 94 range after its recent drop to the 92 range. This quiet 200 pip move may have occured as a reaction to the recent strengthening of the Yen. Current outlook on the NZD/JPY looks bullish until further possible intervention from the RBNZ.

The View: