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HiFX Data Update - NZ Trade Balance Release

The NZ Trade Balance for June has just been released.

They came in better than expected:

NZ Trade Balance:

Trade Balance (Jun) $365mio surplus Consensus $100mio surplus
- Imports (Jun) $4.65bio Consensus $5.20bio
- Exports (Jun) $5.01bio Consensus $5.29bio

Trade Balance Year to Oct $4.94bio deficit Consensus $5.11bio deficit.

The rise in exports was led by logs, wood and wood articles, and untreated logs. Crude oil and milk powder exports contributed positively.

The NZD is little changed in immediate response.

Below is the link to the Stats NZ report:

https://www.stats.govt.nz/information-releases/overseas-merchandise-trade-june-2019

Current indicative rates are:

NZD-USD 0.6690 / 0.6715
NZD-AUD 0.9560 / 0.9585
NZD-EUR 0.5995 / 0.6020
NZD-GBP 0.5375 / 0.5400
NZD-JPY 72.35 / 72.60

ends

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