Forex news. The data on GDP has proved surprisingly high – 0.8%, although economists were predicting the growth of a little less than 0.5%, whereas Reserve Bank was expecting only 0.3%. A devastating earthquake in February had a strong influence on the country’s economy; however, as it turned out, this had a minor influence on manufacturing sector, which was almost unaffected. Rapid growth was mainly achieved by means of manufacturing and, although some enterprises in Christchurch were disabled during the earthquake, most of them continued their work.
Minister of Finance of New Zealand Bill English said that it was a pleasure for him to see the growth of economy after the difficult period of several years, which started in 2008. The numbers generally speak about steady economy of the country. He is also certain that the future recovery will be built on the “platform of increasing savings, export, and manufacturing investments”, but not “excessive loans”, as it was in the last decade.
This piece of news became another reason for New Zealand dollar to set another price record at Forex market. The experts of the Department of In-Depth Trade System Study of Masterforex – V explain that the ascending movement is happening in the form of с(С) wave of Daily1 wave level, and the next targets are within the crossing of significant levels of impulse networks – 0.8580 and 0.8740. Correctional movement or start of turning can only be spoken of as soon as the bullish sloping channel and MF pivot, which will become supportive on a descending way, are broken.
The forecast is provided by Free School of Trading of Masterforex-V Academy.
