NZ Dollar Gains After Trade Surplus Widens Unexpectedly

The New Zealand dollar rose today after the nation’s trade surplus widened unexpectedly last month.
Statistics New Zealand reported that the trade balance logged a surplus of NZ$365 million in June, up from NZ$175 million in May (revised, NZ$264 million before the revision). That was a total surprise to market participants who were expecting a drop to NZ$100 million. The quarterly trade balance posted a deficit of NZ$773 million.
NZD/USD traded at 0.6708 as of 18:19 GMT today after opening at 0.6703 and rallying to the daily high of 0.6723. AUD/NZD tumbled from 1.0446 to 1.0399.

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Your email address will not be published.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 *

− one = 1