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25 Sep 2019

NZ Trade Balance: NZD -1565m (vs expected -1400m)

NZ Trade Balance

  • Aug -1.565 bln (estimates (est) -1.400 bln; prev -0.685 bln).
  • Exports (nzd) 4.13 bln (est 4.10 bln; prev 5.03 bln).
  • Imports (nzd) 5.69 bln (est 5.58 bln; prev 5.71 bln).
  • Trade balance 12-m YTD (nzd) Aug -5.484 bln (est -5.400 bln; prev -5.463 bln).

RBNZ main event

Meanwhile, "markets price only a small risk of the RBNZ following up its shock -50bp rate cut with another -25bp today (12pm Syd/10am Sing/HK). Far more likely is a steady hand at 1.0% though the brief statement should leave open the possibility of further easing. Our base case is -25bp on 13 November," analysts at Westpac explained. 

 

About the Trace Balance

Trade balance, released by Statistics New Zealand, is the difference between the value of country's exports and imports, over a period of year. A positive balance means that exports exceed imports, a negative ones means the opposite. Positive trade balance illustrates high competitiveness of country's economy

 

Sep 25, 2019

New Zealand Trade Balance (YoY) registered at $-5.48B, below expectations ($-4.86B) in August

New Zealand Trade Balance (YoY) registered at $-5.48B, below expectations ($-4.86B) in August
Read more Previous
Sep 25, 2019

NZD/USD ignores weaker than forecast NZ trade balance with all eyes on RBNZ

Despite witnessing weaker than forecast outcomes of the August month New Zealand trade details, the NZD/USD pair seesaws around 0.6320.
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