The New Zealand dollar fell against its US counterpart during the Tuesday’s trading session but gained against other majors, including the euro. Data from New Zealand showed that the nation’s trade surplus shrank last month, but the decrease was not as big as experts have predicted.
The New Zealand trade balance demonstrated an excess of NZ$123 million in April, down from NZ$754 million in the previous months. Still, the actual reading was above the median analysts’ forecast of NZ$105 million. Despite that, the New Zealand dollar was unable to compete with the US currency that is dominating the Forex market today.
NZD/USD fell from 0.7307 to 0.7289 as of 12:27 GMT today. Meanwhile, EUR/NZD dropped from 1.5008 to 1.4982, reaching the low of 1.4931 intraday.
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