NZD/SGD : FORECAST FUNDAMENTAL ANALYSIS + NEXT TARGET POINT

The New Zealand Trade Balance for August was reported at -NZ$2,144M monthly and at -NZ$2,940M 12-month year-to-date. Forex traders can compare this to the New Zealand Trade Balance for July, reported at -NZ397M monthly and -NZ$1,100M 12-month year-to-date. Exports for August were reported at NZ4.35B and Imports at NZ6.49B. Forex traders can compare this to Exports for July, reported at NZ5.77B, and Imports, reported at NZ6.17B.

Singapore Industrial Production for August increased 5.7% monthly and 11.2% annualized. Economists predicted an increase of 3.1% and 8.8%. Forex traders can compare this to Singapore Industrial Production for July, which decreased 2.8% monthly and increased 16.4% annualized.

The forecast for the NZD/SGD remains bearish after this currency pair has reached the top of its descending price channel.

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