The New Zealand Trade Balance has arrived as follows:
NZ Trade Balance
- NZ OCT MONTH IMPORTS NZ$+6.05 BILLION.
- NEW ZEALAND OCT MONTH TRADE BALANCE NZ$-1.01 BILLION.
- NZ OCT MONTH EXPORTS NZ$+5.03 BILLION.
- NEW ZEALAND OCT ANNUAL TRADE BALANCE NZ$-5.04 BILLION.
Description
Trade balance, released by Statistics New Zealand, is the difference between the value of country’s exports and imports, over a period of year. A positive balance means that exports exceed imports, a negative ones means the opposite. Positive trade balance illustrates high competitiveness of country’s economy.
Key notes
More to come…
FX implications
NZD/USD consolidated yesterday’s positive response to the retail sales data and traders had been awaiting this data as well as RBNZ Governor Adrian Orr who is due to hold a press conference about the Financial Stability Report, in Wellington. The reaction was a pop to the upside hunting down a fresh high for the day. Meanwhile, market pricing for RBNZ implies a 30% chance of easing in February, with a terminal rate of 0.84%.
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