Chart: WorldWideMarkets Alpha Trader
The New Zealand Dollar made steady gains in both Asia and Europe after the better than expected NZ January Trade Surplus of NZ$ 56mio versus the forecast of -NZ$ 162mio. (Previous -NZ$ 159mio). Kiwi rose to 0.7615 from 0.7540 in the European session. (+75 pips)
New Zealand's Annual Migration & Visitors also hit record gains in January.
Fonterra's auction yesterday kept its 2014/2015 milk payout to farmers at NZ$4.70 per kgm. Fonterra noted the auction demand was not sufficient to raise the farmgate milk price at this time. The kiwi dollar traded at 0.7530 yesterday 14:00 GMT after the Fonterra data.