New Zealand Prints Tighter Deficit, RUB Stronger Despite Rating Cut

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The New Zealand's trade deficit narrowed faster than expected in November from NZD -908 million to -213 million (vs. -575mn exp.), exports remained mostly stable (4.02billion), as imports decreased from 4.94 billion to 4.24 billion. NZD/USD remains offered below its 21-dma & Ichimoku conversion line (0.7775/76). The bias remains slightly negative.



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