The New Zealand Trade Balance featured a surprise as exports increased more than expected, but this may be an anomaly as it represents one rare data point which came in stronger than expected. This follows the upside surprise in Chinese economic data for September and is most likely associated with it. The NZDUSD remained steady at support, will bulls attempt to push price action higher? Today’s fundamental analysis will take a look at price action in both directions.

The economic calendar is extremely thin today which will allow forex traders to focus on existing trends. The US House Price Index will play a greater role than usual following yesterday’s disappointing housing data and in the absence of other reports. With more US central bank easing and the continued funding issues in the repo market, how will the NZDUSD trade after its advance? Subscribe to the PaxForex Daily Fundamental Analysis and earn over 5,000 pips per month.