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Wednesday, 7 October 00:09 (GMT -05:00)

Business And Politics News

New Zealand foreign trade is showing a steady increase


Forex news. During August New Zealand manufacturing companies have exported more own goods than a month ago. Import has also risen during August, with oil and petrol becoming the leaders of growth, which has lead to $641 mln. trade balance deficit. Export has risen by more than a quarter in comparison with the lowest point in 2009 and remains record, according to Statistics New Zealand.

A traditional deficit of foreign trade is observed in August. However, this year the deficit amounts to 19% of export, whereas last August it amounted to 27% of export.

Export has increased by $313 mln. due to meat and foodstuffs. Import has increased by $523 mln. due to oil, petrol, power-operated cars, and equipment.

New Zealand dollar maintains correction motion towards long-term bullish trend at Forex market. The experts of the Department of Masterforex - V Trading System explain that once the currency pair has broken pivot MF, it has started forming bear impulse, which may be reversal. However, stopping at a sloping channel suggests that ascending motion within wave с(С) of Weekly level may last. The maximal point at the beggining of August – 0.8841 – will form resistance. Breaking a sloping channel may signal about the formation of reversal impulse provided that there is support of АО index. Such index can later start a correction motion or reverse a long-term tendency.



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