FXStreet (Guatemala) - Analysts at UOB Group explained that New Zealand’s merchandise trade deficit shrank in October. See here for latest NZD/USD price action. Key Quotes: "However, exports were weaker than expected as lower global dairy prices continued to diminish export receipts." "The trade gap narrowed from a revised $1.14bn in September to $963mn last month, coming in slightly stronger than the market forecast of a $1.00bn deficit. Exports fell 4.5% y/y to $3.83bn in October, led by a 20% decline in milk powder, reflecting lower term-gate milk prices. Imports were down 2.2% over the same period at $4.79bn last month, with capital goods imports 6.0% lower than a year ago in October." For more information, read our latest forex news.