Dairy products are the main exports of New Zealand dairy products so that the value of trade will have a major impact on trade Kiwi. Dairy sector accounts for more than 7% in economic growth in New Zealand. Fonterra's GDT price index fell from 1.6% in the auction held on Tuesday lower than the previous sales rose 1.9%, with an average selling price of $ 2,458 per ton.
The volume of sales in this auction increased 3.1% to 25 671 tonnes. These auctions are held twice a month and the next is scheduled on 19th January. Before the data that released, Kiwi has been depressed by the risk aversion sentiment that tends to favor the Yen. Kiwi and Aussie are included in the commodity currencies were forced to succumb to the currency pair as the pressure in the trading of crude oil and Asian stock market.
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