New Zealand dollar rises on strong economic data

New Zealand dollar rose on today's trading after positive economic data, ahead of the central bank meeting tomorrow as well as markets anticipation for the G20 summit.

New Zealand trade balance data showed a surplus of 264 billion New Zealand dollars on against expectations of no more than 200 billion.

The central bank will hold its meeting tomorrow to discuss monetary policy and the appropriate decision to support economic growth, and expectations are to keep the interest rate at 1.50% unchanged.

On Friday, the G20 summit will begin with a two-day summit, during which the most important issues of mutual interest will be discussed on the international scene. The most important of these will be the escalation of tensions in the Middle East after Iran dropped a US unmanned aircraft over the Strait of Hormuz.

The summit will be attended by US President Donald Trump and China's Xi Jinping to discuss ways to end the trade dispute between the two countries.

In terms of trading, at 15:28 GMT, NZD/USD rose by 0.5% to 0.665, and recorded a high of 0.6655 and a low of 0.6616.