Analysts at TD Securities note that the New Zealand’s witnessed a blockbuster March surplus of $NZ922m with exports leaping to $NZ5.7b, a fresh record high heading to AUD, JPY and CNY.
“The import slide to $NZ4.77b was unexpected given that fuel prices have accelerated in recent months and NZ is a heavy importer of energy. The March decline in fuel imports must then be set for an April rebound. Our Q1 GDP tracking has jumped from 0.3% to 0.8% just on today's trade news of higher exports and lower imports.”
“We won't know the price-volume split until early June but looks like trade adds 0.5%ppt to GDP growth and the current account deficit shrinks to -3.2% of GDP (from -3.7%).”
“Also released consumer confidence jumped another 1% to 123.2 in April, likely pleased with the PM's decision to not proceed with a CGT.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.