New Zealand dollar declined from its highest level in 15 months after the export data

The New Zealand dollar fell during trading on Wednesday to trade weakly near the lows of yesterday, after experiencing a decline yesterday from its highest level in 15 months after weak data on exports and the expansion of the trade deficit in New Zealand.

The New Zealand dollar against the US dollar is currently trading at the level of 0.7275 after it opened today's trading at the level of 0.7272 and recorded the highest at 0.7277 and the lowest at 0.7267, while it rose yesterday to its highest level in 15 months at 0.7341 before closing down at 0.7271.

Released today by the New Zealand economy data on Trade Balance index during the month of July, the actual reading experiencing a deficit of 433 million New Zealand dollars, compared with expectations for a deficit of 290 million New Zealand dollars while the previous reading indicate a deficit of 127 million New Zealand dollars.

As for exports, the index witnessed a rise worth 3.96 billion New Zealand dollars, compared with expectations for a 4.01 billion New Zealand dollars and the previous reading was 4.26 billion New Zealand dollars.

Exports decline in New Zealand comes as a result of the decline in global demand in general, and the decline in demand from China in particular, as the first trade partner of New Zealand, which represents a negative impact on the New Zealand dollar trades even with the decline in US dollar against major currencies.

As for the dollar index, which tracks the dollar's performance against a basket of major currencies, is currently trading at the level of 94.58 after it opened today's session at the 94.57 level, while the lowest level been recorded at 94.55 after recording the highest at 94.63 comes after it fell yesterday to its lowest level at 94.20.