FX News

NZD/USD Transfer

NZ Trade Balance blew out to -976m much higher than the -200m forecast. This was lower however than last year’s -2.1B and 2021’s -1.1B. Exports are down -7.1% from a year ago with imports falling 20%. The data didn’t affect the New Zealand Dollar (NZD) too much, the kiwi focusing on the recovery in the equity markets overnight. The cross reaching 0.6215 before easing back to 0.6200 levels into Friday. Next week’s RBNZ meet, we are on the fence as to if the central bank will hike.

The current interbank midrate is: NZDUSD 0.6194

The interbank range this week has been: NZDUSD 0.6106- 0.6217

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