The New Zealand dollar was flat against its US counterpart while rising against some other major currencies (including the Japanese yen) today. Economic data released from New Zealand was mixed.
On the negative side, the GlobalDairyTrade Price Index demonstrated a drop by 2.9% yesterday — a bad sign for the New Zealand economy, which strongly depends on exports of dairy products. On the positive side, the current account deficit shrank to NZ$2.61 billion in the December quarter of 2015 from NZ$4.74 billion in the September quarter (not adjusted for seasonal variations). By the end of the current trading session, a report on gross domestic product will be released. Experts predict growth by 0.7% for the fourth quarter of the last year.
NZD/USD traded at 0.6613 as of 10:13 GMT today after opening at 0.6606 and falling to 0.6575 intraday. NZD/JPY rose from 74.77 to 75.09.
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