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NZD/USD spikes to 0.7834 intraday highs

FXstreet.com (Chicago) – NZD/USD rose to 0.7834 to quickly retrace as gains add up to 0.31% so far post NZD trade balance data release.

At $-774M (MoM), trade balance in NZ fell considerably compared to previous $374M and expected $50M. YoY data was $-1.690B doubling down past $-0.816B. Investors weight Fed’s decision while commodity currencies are fueled by positive Chinese data “showing clear signs of stabilization” as stated by Sheng Laiyun, National Bureau of Statistics spokesman.

At 0.7821, the pair is close to immediate support at 0.7820 (July 12th highs/ previous session double highs) ahead of 0.7796 (August 22nd lows) …read more