Today was published the positive statistics from New Zealand, where the country's trade surplus totaled 339 million against the forecast of 75 million. During the year, the trade deficit amounted to 3.57 billion New Zealand dollars, but the situation has improved in recent months. It is worth noting that exports rose in February to 4.25 billion against the imports growth to 3.91 billion. It should be noted the positive dynamics in the dairy products whose exports increased by 9.2%. Despite this positive trend in indicators, the fall of the New Zealand dollar continued to strengthen against the US dollar and lower commodity prices. We maintain our medium-term negative outlook on the NZD/USD with targets at 0.6450 and 0.6250.