NZD to USD trading
It might not rank as one of the largest countries in the world in terms of size, but New Zealand and its dollar currency holds a prominent position on the forex market. The NZD to USD pair is one of the Majors and is also known as the “Kiwi” after the Kiwi bird depicted on the NZ $1 coin.
New Zealand has many natural resources and is a major global exporter of agricultural produce – most notably whole milk powder, but also fruit and meat. As a result, the New Zealand dollar is seen as a commodity currency and its risk factors are not unlike that of the AUD/USD pair.
In addition to its exposure to the global agricultural and commodities market, traditionally high interest rates in New Zealand has meant NZD to USD has also been popular with carry traders.
NZD USD news
One of the primary drivers behind how the NZD performs is the Reserve Bank of New Zealand’s (RBNZ) monetary policy. In May 2013, governor Graeme Wheeler confirmed the RBNZ had been intervening in the markets to devalue the currency after the NZD USD rate had appreciated.
The performance of the New Zealand export market can also affect the NZD USD rate. Global price rises on the dairy and agriculture markets in particular can generate uplift in the economy, which will impact the value of the currency. Tourism is also a key economic driver.
NZD to USD chart
Our NZD to USD chart gives our clients an insight into the performance of this forex pair during the last hour, day, week and month – updated in real time and calculated by our pricing engine using mid-market rates. The performance that can be tracked and the broader trends indicated should not be relied upon as a prediction for future performance, however.