NZ Trade Balance for October: NZ$-5.04 BILLION

The New Zealand Trade Balance has arrived as follows:

NZ Trade Balance

• NZ OCT MONTH IMPORTS NZ$+6.05 BILLION.
• NEW ZEALAND OCT MONTH TRADE BALANCE NZ$-1.01 BILLION.
• NZ OCT MONTH EXPORTS NZ$+5.03 BILLION.
• NEW ZEALAND OCT ANNUAL TRADE BALANCE NZ$-5.04 BILLION.

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.

Key notes

More to come...

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%.