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Stats NZ, New Zealand’s (NZ) official data agency, released the provisional Trade Balance data from February 1 to April 29, in an effort to reflect the coronavirus outbreak impact on the economy.

“The data is provisional and should be regarded as an early, indicative estimate of intentions to trade only, subject to revision,” Stats NZ said.

Key details

Total exports to all countries were up 3.3%.

Total imports from all countries were down 28%.

Exports to China were up 20%.

Imports from China were up 4.5%.

NZD/USD reaction

The kiwi dollar managed to regain the bids over the last hour, as NZD/USD bounced above 0.6050. However, the further upside looks elusive amid cautious market sentiment.

  • NZ PM Ardern: Economy has a safe haven advantage
  • NZ Unemployment Rate: 4.2% (exp 4.4%; prev 4.0%)