NZ trade figures stronger than expectations - ANZ

FXStreet (Bali) - Mark Smith, Senior Economist at ANZ, notes today’s NZ trade figures were stronger than market expectations due to weaker imports.

Key Quotes

"Today’s trade figures were stronger than market expectations. The surprise was due to weaker than expected imports, with fruit exports also stronger than expected."

"Looking forward, lifts to dairy auction prices and a post-drought recovery in production should help export receipts, but a strong domestic backdrop is likely to keep the annual trade position in the red for the time being."