NZDUSD Call Options In the Money – New Zealand Current Account Balance Beats Estimates
Jun, 15th 06:56
NZDUSD ticked up today amid cautious trading ahead of the U.S. Federal Reserve’s monetary policy announcement later in the day. On Tuesday (14/6), a report from the U.S. Commerce Department reported that retail sales increased by 0.5% in May, compared with an expectation for a rise of 0.3%. Core retail sales, which exclude automobile sales, rose by 0.4% in May, in line with forecasts. As a result, the dollar witnessed an overnight surge as the upbeat figures boosted optimism over the strength of the economy. Nevertheless, the New Zealand dollar experienced a strong rally. The data from Statistics New Zealand indicated that New Zealand’s current account balance registered a surplus of 1.31 billion in Q116, compared with a deficit of 2.61 billion in the preceding quarter. On the hourly chart, the pair is following a bullish path to test the level of 0.70147. According to the stochastics chart, the %K line (blue line) has arrived into overbought territory far ahead of %D line (red line). This shows that the buying force is too strong and the price is not expected pull back any time soon. Trade suggestion Buy Digital Call Option from 0.70232 to 0.70321 valid until 20:00 June 17, 2016
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