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JPY Daily News
NZD in Decline on Rebuilding Concerns, Trade Data
The New Zealand dollar (NZD) was seen trading significantly lower this morning as last night's trade balance data revealed a sharp decline in the island economy's trade surplus. The report marks a significant turning point in the nation's trade balance. New Zealand has witnessed steady increases to its surplus, topping last month at NZ$ 1.14B.
Expectations were for a mild decline from this recent peak to a level just near NZ$ 1.0B. The actual report unveiled a stark decline, however, to just over NZ$ 600M. The wide short-fall generated much concern that New Zealand may be witnessing a downturn from the soaring value of its currency, known colloquially as the Kiwi. Concern that this downturn may threaten the nation's rebuilding efforts after the devastating earthquake in Christchurch appears to also be pushing down heavily on the Kiwi's value, which saw its third day of bearishness this morning.
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Print| # | Time | $€£¥ | Event | Per. | Prev. | Fore. | Act. | Imp. |
|---|---|---|---|---|---|---|---|---|
| 06/27 | ||||||||
| 00:50 | JPY |  Retail Sales | y/y | -4.8% | -2.3% | -1.3% |  | |
