NZ Trade Balance for October: Annual NZ$-5.04B vs -5.33B prior
|The New Zealand Trade Balance has arrived as follows:
NZ Trade Balance
- NZ October month imports NZ$+6.05B
- NZ October month imports trade balance NZ$-1.013M vs -$1621M expected.
- NZ October month exports NZ$+5.03B
- NZ October annual trade balance NZ$-5.04B vs -5.33B prior.
Description
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.
FX implications
NZD/USD consolidated yesterday’s positive response to the retail sales data and traders had been awaiting this data as well as RBNZ Governor Adrian Orr who is due to hold a press conference about the Financial Stability Report, in Wellington. The reaction was a pop to the upside hunting down a fresh high for the day. Meanwhile, market pricing for RBNZ implies a 30% chance of easing in February, with a terminal rate of 0.84%.
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