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New Zealand unveils new budget

FXstreet.com (Barcelona) - New Zealand budget was just released, showing a deficit of $NZ6.3bn for the period 2012/13 and a projected one of $NZ 2bn the 2013/14. Finance Minister Bill English will attend the press at 4.30GMT. The Kiwi is unchanged.

GDP growth is expected at 2.3% in 2013/14 followed by a 0.5% increase to 2.8% in 2014/15. The NZD forecast is to stay at hefty levels during the next few years; not major weakness seen until 2017. Net debt is projected to rise to 28.7% of GDP in 2014/15.

China Apr FDI - Foreign Direct Investment (YTD)(YoY) declines to 1.21% vs 1.44%

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Forex: Sterling due for consolidation after recent declines?

The Sterling was able finish the day with small gains, closing up 8 pips at 1.5224. At one point the pair had traded as low as 1.5173, but was able to find support and drift higher much of the US session. It was a busy economic session out of the UK, with the Claim Count figure coming in better then expected at -7.3k vs. -3.0k forecast. Furthermore, the Bank of England released its latest quarterly inflation report which could have influence on the pair in coming days
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