NZD/USD extends its losses for the fifth successive session, trading around 0.5740 during the early European hours on Monday. The daily chart’s technical analysis signals a potential bullish reversal as the pair price moves ahead in the descending wedge pattern.
The General Administration of Customs will publish its data for August on Monday at 03.00 GMT. Trade balance is expected to narrow to $98.96B in September, compared to $102.33B in the previous reading. Exports are expected to climb by 6.0%, while Imports are projected to rise by 1.5%.
The EUR/GBP advanced on Friday but remained shy of the 0.8700 figure after hitting a daily high of 0.8725 earlier during the European session. France political turmoil and a stagnating economy in the UK, could keep the cross-pair trading within familiar levels of 0.8650-0.8750.