Foreign exchange market was somewhat subdued today except New Zealand’s macro-economic releases.
New Zealand posted its largest monthly trade deficit on record in August. Their Exports failed to keep up with the surge in key imports. Their trade deficit had widened to 1.484 billion. Exports came in slightly above $4 billion while imports rose to near-record levels at $5.5 billion.
Meanwhile, their business confidence improved in September after tumbling to recession-like levels in August.
In other news, the market eagerly awaits the US Federal Reserve’s interest rate decision tomorrow morning. A quarter percent increase is imminent however, any deviation plus or minus, would be quite a surprise.