FXstreet.com (Edinburgh) – The kiwi dollar is trading on the defensive camp on Wednesday, with the NZD/USD meandering just below the key barrier at 0.8200.
NZD/USD weaker on trade data
The NZD intensified its decline overnight despite the trade deficit shrunk to $168 million during October, bettering both estimates ($350 million) and September’s print ($216 million). Both exports and imports also exceeded expectations and previous data. Next on tap will be the Business Confidence gauge sponsored by ANZ, to be released tomorrow (53.2% prev.). Annette Beacher, Strategist at TD Securities, observed, “New Zealand trade tends to morph into surplus over the …read more