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Analysts at TD Securities are seeing downside risks to the March German IFO, which is scheduled to release later on today and suggests that the NZ trade balance will be next key release for the markets on early Tuesday morning

Key Quotes

“German Current Situation Index likely to fall to 102.0 (mkt: 102.9), while the Expectations Index likely to decline to 93 (mkt: 94.1).”

NZ: Feb trade balance is expected to remain in deficit, around -$NZ200m. While exports are likely to pick up a little to $NZ4.8b on stronger dairy prices, they are still expected to be outpaced by imports at $NZ5.0b as fuel prices also picked up in the month.”