New Zealand dollar holds after weak data

New Zealand dollar fell slightly today after the release of weak economic data but steadied due to the continued global markets' concerns despite a relative ease in the trade tensions.

New Zealand released today its trade balance reading, which showed a deficit of 685 million NZ dollar in July, more than forecasts of 250 million.

President Trump said that his administration have received signals from China about returning to the trade talks.

This comes after after China announced an additional tariffs on $75 billion worth of US imports, while President Donald Trump ordered US companies to find an alternative to China and come back "home".

Additionally, Trump also announced last week an increase in tariffs to 30% from 25%, with another 15% tariffs on Chinese imports worth $300 billion.

As of 16:39 GMT, NZD/USD stabilized at 0.64, with a high of 0.6404 and a low of 0.6341.