Data from Statistics New Zealand showed today that
Exports rose 4.5 billion on month in April, while imports were NZUSD3.96 billion in the month.
Annually, trade surplus was NZUSD1.19 billion, lower than the expected surplus of NZUSD1.3 billion.
The kiwi dropped to 1.0828 against the aussie, setting a weekly low. The pair was worth 1.0787 at Friday's close. If the kiwi continues decline, 1.09 is likely seen as next possible downside target level.
The kiwi hit 0.8526 against the greenback for the first time since
The kiwi which finished last week's trading at 87.03 versus the yen fell to 86.93. The next possible support for the kiwi is seen around the 86.00 zone.
The kiwi dropped to 1.5970 against the euro in early deals and stablised shortly thereafter. The pair was worth 1.5947 when it ended deals on Friday. An extension of decline may lead the kiwi to a support at the 1.61 level.
Looking ahead, the
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