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NZ Dollar Rallies After Trade Deficit Shrinks

August 24, 2018 at 11:57 by Vladimir Vyun

A coin rolling on the New Zealand dollar billsThe New Zealand dollar rallied today after the country’s trade balance deficit shrank unexpectedly last month. The currency gained on almost all of its most-traded rivals, though it has pared gains versus the euro by now.

Statistic New Zealand reported that the trade balance logged a deficit of NZ$143 million in July. That was a decrease from the June gap of NZ$288 million (revised, NZ$113 million before the revision). Analysts had predicted a surge of the shortage to NZ$400 million.

NZD/USD advanced from 0.6624 to 0.6668 as of 11:48 GMT today. EUR/NZD was up from 1.7381 to 1.7426 intraday before retreating to 1.7387.

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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