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NZ Trade Balance

This is quite a quiet week on the data front from New Zealand. However, there is one major event that could move the currency.

Exports are an important part of the economy. So, the trade balance has extra weight on the exchange rate.

Additionally, following the drop in bond yields, New Zealand isn’t as attractive as a carry trade destination. This makes cash demand from trade a larger factor in currency performance.

In the last two months, the trade balance has come in ahead of downward moves in the currency, as the export numbers have disappointed.

With the Chinese providing a more optimistic tone on the trade front the last couple of days, the markets have been more willing to take on risk. Could the upcoming data truncate the recent kiwi strength?

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What We Are Expecting

Expectations are for the September New Zealand trade balance to come in at a deficit of NZ...


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