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At the Forex currency market, the New Zealand Dollar rate almost stands still on Thursday, trying to determine trading directions.

Forex forecast: MACD indicator is in the positive area for the pair NZD/USD, and is going up, giving a buy signal. Stochastic Oscillator has come out of the oversold zone, and is going down, giving a sell signal.

Forex recommendations: in case of breakdown at the level of 0.8250, the pair will go down to 0.8235 and 0.8200.

Nature has created a negative factor for the New Zealand today: earthquake of magnitude 7.9 points have been recorded in the north-east of New Zealand this morning. The epicenter was located near the Islands of Kermadek and Tonga, at the depth of 48 km.The data released earlier showed that net level of budget deficit in New Zealand rose to -NZD$40 billion (20.4% billion of the country’s GDP) in May, which was below economists’ forecast.

According to the estimates of the Finance Minister Mr. English, budget deficit is still too large and active measures are required to reduce it.The report on New Zealand GDP, scheduled for the release this week, was postponed until 14 July- the Bureau of Statistics said that more time is needed to review the indicators.

Earlier, the Reserve Bank of New Zealand decided to keep interest rate unchanged at the minimum of 2.50% per annum, since it is going to continue its work on improvement in economic system. According to the head of the RBNZ, NZD has been overvalued because of high export prices for raw materials, therefore, national currency rate, which has increased over the last two months, has adverse impact on the rebalancing of the economy in New Zealand.

Bollard expressed confidence that decline of the NZD will be gradual because currency intervention will not be able to change the trend. It became known earlier that business sentiment NZIER in New Zealand rose to 27 points in Q2 against -27 points earlier. In general, it is a positive factor.Trade balance in New Zealand was at the level of NZD$605 billion in May against the forecast of NZD$1000 billion.

This is a negative data, because decline in the trade balance will indicate decline in the level of exports later, which will be the impact of cooling in Chinese economy.

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