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NZ Dollar Falls as Trade Deficit Narrows Less Than Expected

November 24, 2017 at 8:24 by Vladimir Vyun

Many 100-dollar billsThe 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.

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