That amounts to 24.5% of GDP.
The NZD/USD is fairly steady this morning near .7950 after enduring a sharp bear trend last week when it fell from .8235 to .7897 (didn’t the NZD Guru predict just that??). If we are now in a retracement phase, the first main level to watch will be the 38.2% retracement level at .8025. Perhaps trading this .7900/.8025 range in the short-term makes good sense?
