The New Zealand dollar rose today thanks to the positive domestic data and the rebound of prices for crude oil.
The New Zealand trade surplus expanded to NZ$292 million in April from the March’s revised level of NZ$189 million. It was a total surprise to economists who were counting on a big drop to NZ$40 million. Meanwhile, crude oil rallied more than 1%, bolstering commodity-related currencies.
NZD/USD rose from 0.6736 to 0.6761 as of 18:12 GMT today. NZD/JPY climbed from 74.08 to 74.48.
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