The New Zealand dollar traded lower today amid mild risk aversion on the Forex market. Worse-than-expected domestic macroeconomic data was not helping either.
Statistics New Zealand reported that the trade balance demonstrated a deficit of NZ$914 million in January after logging a surplus of NZ$12 million in December. Economists had predicted a smaller gap of NZ$300 million. Both imports and exports increased compared to the same period in the previous year, but imports were rising faster than exports (7.7% versus 3.0%).
NZD/USD declined from 0.6889 to 0.6868 as of 12:32 GMT today. EUR/NZD gained from 1.6524 to 1.6579.
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NZ Dollar Falls on Risk Aversion, Trade Deficit
