NZ: Trade deficit twice as big as was expected - BBH

Analysts at BBH note that New Zealand reported November trade data overnight and the deficit was -NZD1.2 bln, over twice as big as the -NZD550 mln that was expected.  

Key Quotes

“Exports were slightly stronger than expected, but imports rose even more. The Q3 current account gap was also larger than expected at -NZD4.7 bln, or -2.6% of GDP.  Kiwi traded as low as .6955 after the data but found a slight bid.  However, it was unable to break back above the .7000 area and is trading heavy.”