New Zealand’s Trade Balance came in at NZD $-10.05B YoY in May versus $-10.22B prior, according to the latest data released by Statistics New Zealand on Monday.
Further details suggest that Exports increased to $7.16B during the said month versus $6.31B prior whereas Imports rose to $6.95B compared to $6.32B in previous readings. Market reaction At the press time, the NZD/USD pairis down 0.04% on the day to trade at 0.6155. New Zealand Dollar FAQs What key factors drive the New Zealand Dollar? The New Zealand Dollar , also known as the Kiwi, is a well-known traded currency among investors.
When inflation is too high, the RBNZ will increase interest rates to cool the economy, but the move will also make bond yields higher, increasing investors’ appeal to invest in the country and thus boosting NZD. On the contrary, lower interest rates tend to weaken NZD. The so-called rate differential, or how rates in New Zealand are or are expected to be compared to the ones set by the US Federal Reserve, can also play a key role in moving the NZD/USD pair.
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