HiFX Data Update - NZ Q2 Current Account Release

HiFX Data Update - NZ Q2 Current Account Release

The NZ Current Account Balance for Q2 2017 has just been released.

The Current Account Deficit was better than expected (smaller deficit):

Current Account Balance Q2 $618 mio Deficit (Consensus $870 mio Deficit)

Current Account Balance (seasonally adjusted) $1.6 bio Deficit
Year to June 2017 Current Account Balance $7.49 bio Deficit
Current Account Deficit as % of GDP 2.8% (Consensus 3.0%)

Revisions to prior quarters were marginally better than initially reported.

The NZD is little changed in immediate response.

Tomorrow brings the US Fed interest decision (with no change to rate expected, focus will be on their statement for any indication on the path and pace of any future rate hikes), followed by NZ GDP (Q2).

Current indicative levels are:

NZD-USD 0.7305 / 0.7330
NZD-AUD 0.9125 / 0.9150
NZD-EUR 0.6090 / 0.6115
NZD-GBP 0.5405 / 0.5430
NZD-JPY 81.55 / 81.80

Please call for further information or pricing.

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