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NZD/USD remains in a defensive mood above the 0.5900 mark following New Zealand Trade data
The NZD/USD pair breaks below the psychological round mark of 0.6000 and remains under pressure during the early Asian session on Monday. The pair bounces off the lowest level since November 2023 at 0.5903 and currently trades near 0.5926, gaining 0.27% for the day. The latest data from Statistics New Zealand on Monday showed that the nation’s Trade balance recorded a deficit of $15.81B in July YoY compared with a deficit of $-16.11B in the previous month. Exports fell to $5.45bn in July from $6.18B in the previous month, while Imports expanded to $6.56B from $6.29B prior. The Reserve Bank of New Zealand (RBNZ) ... (full story)