By ForexMansion.com

 

The New Zealand currency started its recovery after the trade surplus widened during the month of March, due to the nation’s exports of milk powder soared to a record, along with the continuing rise in commodity prices supporting the NZD/USD higher.

 

New Zealand exports (account for 30% of the nation’s economy) accelerated 11% during the month of March on Asian demand for New Zealand products, supporting the economy to revive this fiscal year after the quake.

 

As for the negative results that hurt the New Zealand economy after the earthquake, the RBNZ governor Mr. Alan bollard kept the interest rates steady at their lowest level at 2.50% as the Bank aims to support the economic recovery during the first half of the year.

 

On Monday, the New Zealand economy, it will release it ANZ commodity price index for April at 01:00 GMT, where the previous reading was 4.7%.

 

On Monday the U.S. economy will start the week with the construction spending for March at 14:00 GMT, where it’s expected to show an increase of 0.3% after the previous decline of 1.4%.

 

Also ISM manufacturing will be released at 14:00 GMT and expected to come at 60.1 compare with the previous of 61.2. 

Originally posted here

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