NZD/USD bulls looking for a break of a trendline resistance on a key event day for NZD. Markets focus also with trade deal progress supporting risk while US dollar maintains form NZD/USD has been a top performer on Tuesday, bar the US dollar, popping to market highs following the Reserve Bank of New Zealand’s Finacial Stability Report. Ahead of today’s Trade Balance and RBNZ’s Governor Adrian Orr’s speech where he is due to hold a press conference about the Financial Stability Report, in Wellington, NZD/USD is ending on Wall Street 0.17% higher around 0.6430 and the highs of the day of 0.6431. Main focus stays with Sino/US trade relations Overall, however, the bird remains largely unchanged as the USD strengthened more broadly on the back of trade optimism. A Bloomberg article stated that “the officials “reached consensus on properly resolving relevant issues” and agreed to stay in contact on the remaining points for a so-called phase one pact, China’s Ministry of Commerce said in a statement. The US Trade Representative’s office confirmed a meeting took place but declined to comment on the contents.” Such sentiment is bullish for risk-on trades and especially for the commodity complex for which the kiwi is correlated to. However, there has been less uptake in recent sessions as investors look for some concrete developments rather than the constant barrage of conflicting headlines and even should a so-called “Phase-One” deal be secured, markets will immediately look to the more elusive Phase-Two deal which is where the fat on the bone comes in. The second phase is an ambitious one and would focus on a key U.S. complaint that China effectively steals U.S. intellectual property by forcing U.S. companies to transfer their technology to Chinese rivals, something that Trump is determined to resolve but may face a wall of opposition from the Chinese. Key events for NZD Meanwhile, a better-than-expected Q3 NZ Retail Sales print gave something of a momentary dash higher in the kiwi yesterday – the bird fell into a choppy uptrend since and into the RBNZ Financial Stability Report: Acting to bolster financial system resilience (FSR). The FSR is arguably just the warm-up act for the RBNZ’s final decision on bank capital levels, due on 5th December. Looking ahead, we have the trade balance and RBNZ governor Orr speaking for which a preview will be posted within this article in moments. More to come… NZD/USD levels Bulls are testing trend line resistance as well as the 21 4-hour moving average with the 200-hour moving average turning neutral/bullish. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next When are NZ Trade Balance, speech from RBNZ’s Orr and how could they affect NZD/USD? FX Street 3 years NZD/USD bulls looking for a break of a trendline resistance on a key event day for NZD. Markets focus also with trade deal progress supporting risk while US dollar maintains form NZD/USD has been a top performer on Tuesday, bar the US dollar, popping to market highs following the Reserve Bank of New Zealand's Finacial Stability Report. Ahead of today's Trade Balance and RBNZ's Governor Adrian Orr's speech where he is due to hold a press conference about the Financial Stability Report, in Wellington, NZD/USD is ending on Wall Street 0.17% higher around 0.6430 and the highs of the day… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk.4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk.5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.