Forex Trading News – New Zealand Business Confidence

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Forex Economic News: China’s Manufacturing PMI experiences slower expansionBusiness Confidence in New Zealand for the current month has improved. The reading for the previous month was 46.5, while for the current month came out at 47.6. The Business Confidence is mainly driven by the construction sector, which lately operates in full steam to restore the damages from the massive earthquakes in Christchurch and Canterbury. The indicator gives a short term view of the economic situation in the country. Upon the release of the results the NZ Dollar gained instantaneously some 11 pips to climb to 0.8737 versus the US Dollar, currently the Kiwi is trading at 0.8728. Nevertheless, the NZDUSD pair is eyeing a new post floating era high amid debt problems in the US and robust economic activity in New Zealand.