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XE Data Update - NZ Trade Balance

The NZ Trade Balance for February has just been released.

They came in a little better than expected:

NZ Trade Balance:

Trade Balance (Feb) $12mio surplus Consensus $200mio deficit
- Imports (Feb) $4.80bio Consensus $4.90bio
- Exports (Feb) $4.82bio Consensus $4.70bio

Trade Balance Year to Oct $6.62bio deficit Consensus $6.68bio deficit.

The rise in exports was led by milk powder, butter, and cheese, and a new record month for lamb exports.

The NZD is marginally higher in immediate response.

Current indicative rates are:

NZD-USD 0.6900 / 0.6925
NZD-AUD 0.9705 / 0.9730
NZD-EUR 0.6095 / 0.6120
NZD-GBP 0.5225 / 0.5250
NZD-JPY 75.95 / 76.20

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