New Zealand Exports came in at $3.7B below forecasts ($3.98B) in July

New Zealand's trade balance (YoY) (Jul) came at $1.29B vs 1.49B exp and $1.20B last, with the MoM reading at $-692M vs $-475M exp and $247M last. Exports (Jul) were $3.7B vs $3.98B exp and $4.19B last, while imports (Jul) stood at $4.39B vs $4.50B exp and $3.95B last. Overall, some poor numbers that have added downside pressure to the NZD.