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<p>New Zealand data</p><p>Terms of trade index  -2.4% q/q</p><ul><li>expected -1.3%</li><li>prior +0.5%</li></ul><p>-</p><p>While export prices rose:</p><ul><li>+3.7% q/q (expected -0.8%, prior +7.8%)</li><li>export volumes +3.0% q/q (prior +7%)</li></ul><p>import prices rose even more:</p><ul><li>+6.5% q/q (expected +2.5%, prior +7.2%)</li></ul><p>--</p><p>The New Zealand dollar has barely moved, it was not expected to on this data release. </p>

This article was written by Eamonn Sheridan at www.forexlive.com.