The NZ Trade Balance for October has just been released.

They came in worse than expected:

NZ Trade Balance:

Trade Balance (Aug) $1.30bio deficit Consensus $850mio deficit
- Imports (Aug) $6.15bio Consensus $5.74bio
- Exports (Aug) $4.86bio Consensus $4.88bio

Trade Balance Year to Oct $5.8bio deficit - consensus $5.1bio deficit.

The NZD is marginally lower in immediate response.

The RBNZ Financial Stability Report plus Governor Orr’s related press conference and testimony before the Parliament Select Committee take place Wednesday. There is speculation the RBNZ will loosen the current LVR property restrictions.

Current indicative rates are:

NZD-USD 0.6755 / 0.6780
NZD-AUD 0.9370 / 0.9395
NZD-EUR 0.5965 / 0.5990
NZD-GBP 0.5275 / 0.5300
NZD-JPY 76.75 / 77.00

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