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HiFX Data Update - NZ Q2 Current Account Release

The NZ Current Account Balance for Q2 2018 has just been released.

The Current Account Deficit was worse than expected (larger deficit):

Current Account Balance Q2 $1.62 bio Deficit (Consensus $1.32 bio Deficit)

Current Account Balance (seasonally adjusted) $2.67 bio Deficit
Year to June 2017 Current Account Balance $9.54 bio Deficit
Current Account Deficit as % of GDP 3.3% (Consensus 2.8%)

Revisions to prior quarters were worse than initially reported.

The NZD is marginally lower in immediate response.

Tomorrow brings NZ GDP (Q2) numbers.

Current indicative levels are:

NZD-USD 0.6585 / 0.6610
NZD-AUD 0.9110 / 0.9135
NZD-EUR 0.5635 / 0.5660
NZD-GBP 0.4995 / 0.5020
NZD-JPY 73.95 / 74.20

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