Increasing Trade Surplus Does Not Help NZ Dollar

The New Zealand dollar dropped today even as the nation’s trade surplus widened last month. The increase was smaller than analysts have anticipated and the general market sentiment was less positive than it had been previously.

New Zealand trade balance posted a surplus of NZ$523 million in December. It was far bigger than November’s NZ$183 million, but below traders’ expectations of NZ$550 million. Additionally, the investors’ mood, which previously has been supportive for riskier currencies, turned in favor of safer ones, like the dollar and the yen.

NZD/USD dropped from 0.8164 to 0.8137 and NZD/JPY declined from 83.86 to 83.34 as of 10:44 GMT today.

If you have any questions, comments or opinions regarding the New Zealand Dollar,
feel free to post them using the commentary form below.

Be First to Comment

Leave a Reply

Your email address will not be published. Required fields are marked *