The New Zealand dollar climbed today after New Zealand’s trade balance made a very pleasant surprise for market participants, unexpectedly turning from deficit to surplus last month. The currency retreated versus the Japanese yen.
The New Zealand trade balance posted the surplus of NZ$486 million in December. That was completely unexpected by analysts as they have anticipated a deficit of NZ$106 million. The surplus was biggest since 1991. Moreover, the November deficit was revised from NZ$700 million to NZ$590 million. The trade deficit was NZ$87 million in the fourth quarter of 2012.
NZD/USD was up from 0.8335 to 0.8353 as of 10:51 GMT today and its daily maximum was at 0.8377. NZD/JPY fell from 75.71 to 75.57 after rising to 76.08.
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