New Zealand's trade surplus is expected to fall to NZ$250 million from NZ$489 million, marking the first drop in the trade balance following six straight months of increases that brought the balance from -$NZ1.2 billion in September to its current level.

Later in the session, the National Bank of New Zealand will release its business outlook report for April.

"While there are reasons to expect a slight improvement in some of the core activity series, we suspect it will, overall, remain negative enough to be consistent with a clearly contracting economy," Bank of New Zealand economist Craig Ebert said.

All times in EDT.

Tuesday:

18:45 NZ Trade Balance March Exp: +250.0M Prior: +489.0M

18:45 NZ Imports March Exp: +3.34B Prior: +2.97B

18:45 NZ Exports March Exp: +3.55B Prior: +3.46B

18:45 NZ Trade balance for full year March Exp: -4893 Prior: -5161

23:00 NZ Money Supply M3 (Y/Y) March Prior: +8.7%

23:00 NZ NBNZ Business Confidence April Prior: -39.3

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