New Zealand Dollar / US Dollar (NZD/USD)
Track the New Zealand Dollar (NZD) against the US Dollar (USD). Stay on top of market movements and access expert trading insights at FP Markets .
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New Zealand Dollar / US Dollar (NZD/USD) Trading FAQ
While forex pairs can theoretically be traded 24 hours a day, there are optimum times to trade the NZD/USD whenever the currency pair is more volatile. From midnight to 02:00 a.m GMT, 06:00 a.m. to 08:00 a.m. GMT and then the most active part of the day is between 12:00 p.m. and 17:00 p.m. GMT. The NZD/USD is also sometimes active from 21:00 p.m. through to 02:00 a.m. GMT.
Many factors can affect the NZD/USD market sentiment and spot rates, such as central banks policies, the price of commodities in each country, exports of both countries, economic growth, and political stability. Moreover, agriculture in New Zealand can affect the country’s economy. Two-thirds of New Zealand’s exports are agricultural, with the milk power being the world’s biggest exporter. Also, tourism can influence New Zealand’s economy and it will have a major impact on its currency.
New Zealand is very open to trade, so the NZD/USD currency pair is of great commercial importance to traders. Traders refer to this currency pair with the term 'Kiwi' as the $1 coin of New Zealand depicts a kiwi bird.
As you may already know, trading via CFDs (contracts for difference) is one of the most popular approaches when dealing with currencies such as NZD and USD. While there are numerous Forex brokers out there. Try to find one that suits your needs. Such as FP Markets, a fully regulated broker that offers all types of platforms and accounts, to suit every need.
