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.