Free Trial

New Zealand Posts Record Monthly Trade Deficit

NZD

NZD/USD round tripped from an intraday high of $0.7194 Tuesday, as participants tracked gyrations in broader risk appetite. The rate last operates at $0.7165, little changed on the day.

  • A clearance of Oct 21 high of $0.7219 would expose $0.7243, which capped gains on Jun 7. Conversely, losses past Oct 25 low of $0.7130 would turn focus to the 200-DMA at $0.7102.
  • New Zealand's trade deficit widened a tad to a new record of NZ$2.171bn, as imports surged to an all-time high of NZ$6.57bn. Stats NZ commented that the "three consecutive record months for imports are a reflection of both the higher prices New Zealanders are paying for consumer goods, and strong demand for capital goods such as machinery used in construction, and passenger vehicles."
  • Final ANZ Business Confidence will hit the wires at the top of the hour, with ANZ Consumer Confidence coming up Friday.
  • Also at the top of the hour, Health Min Hipkins will unveil the Cabinet's decision on Covid-19 Alert Levels in Waikato.
  • In case you missed it, RBNZ Gov Orr spoke yesterday and warned that climate change could result in a prolonged period of faster global inflation, which would require monetary policy reactions.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.