NZ Dollar Falls as Trade Deficit Narrows Less Than Expected

The New Zealand dollar was soft today as the nation’s trade deficit narrowed last month but still came out above expectations.

The New Zealand trade balance posted a deficit of NZ$871 million in October. While it was lower than the NZ$1,156 million figure in September, the actual value was above the forecast NZ$750 million. The growth of exports was led by milk powder, butter, and cheese, while the major component in the increase of imports was mechanical machinery and equipment.

NZD/USD fell from 0.6888 to 0.6869 as of 8:22 GMT today. EUR/NZD rose from 1.7186 to 1.7233.

If you have any questions, comments or opinions regarding the New Zealand Dollar,
feel free to post them using the commentary form below.

Leave a Reply

Your email address will not be published. Required fields are marked *