NZ Dollar Holds Ground Despite Surprising Trade Deficit

The New Zealand dollar was firm today despite domestic macroeconomic data that showed a surprise trade deficit.

The trade balance showed a deficit of NZ$113 million in June. That is instead of a surplus of NZ$200 million predicted by experts. Furthermore, the previous month’s trade surplus got a negative revision from NZ$294 million to NZ$208 million.

NZD/USD rose from 0.6797 to 0.6815 as of 10:40 GMT today. EUR/NZD was little changed at 1.7168 after rallying to the daily high of 1.7206.

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