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We’ve had an adjustment in the RBNZ’s outlook to reflect the less than satisfying data we have been seeing lately. But is one of the more important economic indicators for the currency going to reflect that?
Or are we going to have a better result? What can we expect from the trade balance, and how does it translate into currency moves?
Expectations and Schedule
The trade balance for March is coming out on Friday at 00:45 CET (which would be Thursday at 18:45 EST). The annualized version will also be published. The markets are likely to scrutinize the individual components of the balance just as much as the headline.
The consensus among surveyed economists is that the trade balance slipped into deficit, by just NZD271M. This would have reversed last month’s minuscule surplus of NZD12M. And it would lead the annualized trade deficit to plunge further into multi-year lows, coming in at -NZD6...
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