The New Zealand dollar may resume falling after correction
Today, the New Zealand dollar showed an increase after was published the data on the country's trade balance surplus which in April was 292 million against the forecast of 40 million. It is worth noting that the growth of exports of small goods and fruits could compensate the reduction in dairy exports, which is a key export group. According to our estimates, the RBNZ can lower interest rates to fight low inflation, which will be negatively displayed on the price of the currency, which is also under pressure from the expected tightening of US monetary policy. Our medium-term outlook also remains negative with the objectives at 0.6450 and 0.6250.
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