The New Zealand Dollar is benefiting from a second day of risk taking in global markets as concerns over the Delta Covid variant subside. New Zealand’s July balance of trade crossed the wires at -NZ$402 million this morning, down from +N$245 million in June. Exports fell to N$5.75 billion from $5.96 billion, and imports rose N$6.16 billion from N$5.71 billion. This morning’s data showed a souring sign for New Zealand’s economy. The fall in cross-border trade is likely due to its regional trading partners suffering from consumption crippling Covid restrictions, like those seen in Australia. Moreover, New Zealand is ... (full story)