NZD/USD: Export data to weigh on the kiwi – ANZ

Export data will show the extent of deterioration in agricultural demand in New Zeland as a result of COVID-19 spread through China, economists at ANZ Research apprise.

Key quotes

“A large share of New Zealand’s exports are directed to Asia, leaving it exposed to the large scale shutdowns in response to COVID-19.”

“The mix of lower export volumes, tourist arrivals, commodity prices and business confidence will be hard for the RBNZ to ignore, weighing on the NZD.”   

 “Spot: 0.57 ANZ Fair value: 0.63”