News: Australian dollar slips after trade data, NZ$ near 1-month top

The Australian dollar came off six week highs on Thursday after the country's trade surplus fell in April, while its New Zealand cousin stepped back from a one-month peak.

The Australian dollar AUD=D4 was last down 0.2 percent at $0.7653 from Wednesday's $0.7677, the highest since mid-April.

Australia's trade surplus slipped to A$977 million in April from an upwardly revised A$1.73 billion the previous month, data from the Australian Bureau of Statistics (ABS) showed on Thursday, and below forecasts of A$1 billion.

The Aussie got a major boost after a run of stronger-than-expected data this week, including a solid economic growth report for the March quarter.

However, that was still not enough to nudge the currency above $0.7700, a level that has remained elusive since early April as investors see scant reasons for the country's central bank to lift rates.

The Reserve Bank of Australia (RBA) left rates at a record low 1.50 percent on Tuesday for a 22nd straight meeting as it awaits a revival in inflation and wages growth.

Thursday's fall in the trade surplus was all due to a 2.2 percent drop in export values, with shipments of iron ore and coal - Australia's biggest export earners - easing 2 percent and 7 percent, respectively.

"So just one day after the release of the 1.0 percent q/q rise in GDP in the first quarter, the early evidence suggests that the economy won't do quite as well in Q2," said Paul Dales, chief economist at Capital Economics.

"Even after factoring in rises in total exports in both May and June, net exports may make a neutral contribution to real GDP growth in the second quarter."

Across the Tasman Sea, the New Zealand dollar NZD=D4 was slightly firmer near a one-month high of $0.7060 hit overnight as global risk sentiment improved on easing concerns over Italian politics and a tech-driven rally in global shares.

The kiwi was last up 0.2 percent at $0.7042. "This upward correction shows no signs of fading, 0.7130 the next target...if risk sentiment remains upbeat," said Imre Speizer, markets strategist at Westpac Bank in a research note.

New Zealand government bonds 0#NZTSY= eased, sending yields 8.5 basis points higher at the long end of the curve.

Australian government bond futures also softened, with the three-year bond contract YTTc1 off 4 ticks at 97.735. The 10-year contract YTCc1 slipped 7 ticks to 97.165.