By ForexMansion.com
The New Zealand dollar started this week with a decline after the pair gained during the past week. Kiwi failed to continue its upside movement as the US economic growth has picked up during the fourth quarter, supporting the dollar to reclaim some of its losses, after the Kiwi dollar gained last week to reach its highest level in 3 weeks.
The New Zealand economy will release early Tuesday its trade balance for the month of February at 21:45 GMT, where it expected to show a surplus of NZ$270 million, compared with the previous month of NZ$11 million.
The NZ report will support the pair to rise, as the nation’s exports will increase by 6.0% to NZ$3.50 billion, from NZ$3.28 billion.
Nonetheless, we should also keep our eyes on the dollar ahead of the news tomorrow as key fundamentals form the US will affect the pair.
On Monday today as of 12:30 GMT, the Income Report from the US will be influencing the movement. US spending is expected to have inched higher to 0.5% in February from 0.2%. On 14:00 GMT US housing data and Pending Home Sales might be further support as housing activity is expected with some improvement.Â
