NZ trade data for October 2020
New Zealand trade balance for October is a deficit of 501m NZD
expected NZD -500m, prior -1017m NZD
Exports NZD 4.78bn
expected NZD 4.78bn, prior NZD 4.01bn
Imports NZD 5.29bn
expected NZD 5.28bn, prior NZD 5.02bn
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NZ data has been supportive, but this week its been about the RBNZ, as I said yesterday:
Reserve Bank of New Zealand Governor Orr spoke at a news conference, most notably:
- he said that while the Bank wanted to be 'operationally' prepared for negative rates the Bank has not yet said it'll be going negative
- he also did not mention comments he has made previously that he wants to work to get bond yields lower
Both these points underpinned the NZD on the session here.
And wow .... did that continue during Europe and US times!
