New Zealand's trade balance improved to -NZD10.05bn in May, with exports and imports both rising.
New Zealand's trade balance improved to NZD -$10.05bn in May, up from NZD -$10.22bn in April, with exports rising to NZD $7.16bn from NZD $6.31bn and imports increasing to NZD $6.95bn from NZD $6.32bn. The NZD/USD pair fell 0.04% to 0.6155. The NZD has experienced a -0.37% week-on-week decline, with the US Dollar strengthening due to strong US PMI data, supporting the USD against the NZD. The RBNZ's hawkish bias may limit the currency's downside.
June 23, 2024
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