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NZ Dollar Behaves Similar to Aussie, Ignoring New Zealand Trade Balance

50 and 100 New Zealand dollar billsThe New Zealand dollar fell earlier today but has bounced by now, behaving similar to its Australian counterpart. The trade balance report released close to the end of the previous trading session provided a positive surprise, but it had a negligible impact on the currency.

The New Zealand trade balance logged a surplus of NZ$640 million in December after posting a deficit of NZ$1,233 million in the previous month. The actual figure was far better than the shortage of NZ$125 million predicted by analysts. Moreover, it was the biggest surplus since March 2015 and the largest December surplus ever. And on top of that, both imports and exports hit a record in 2017.

NZD/USD jumped from 0.7320 to 0.7347 as of 11:39 GMT today after falling to the low of 0.7278 earlier. NZD/JPY was near its opening level of 79.74 following the decline to the session low of 79.15.

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Post tags: Dollar, New Zealand, NZD/JPY, NZD/USD, Trade Balance

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NZ Dollar Behaves Similar to Aussie, Ignoring New Zealand Trade Balance


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