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country currency pairs gbpnzd

Great Britan Pound vs New Zealand Dollar

Great Britan Pound vs New Zealand Dollar (GBPNZD)

The GBPNZD currency pair represents the relationship between the British pound GBP and the New Zealand dollar NZD in the global foreign exchange market.

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Annual change
-.--%
All time High / Low
1.60393 / 2.56027
Buy

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Sell

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Daily price range:
Low
2.12842
High
2.13079

GBPNZD Contract Specifications

  • Minimum Spreads, points: 0
  • Contract Size per Lot: 100000
  • Swap type: Points
  • Swap Long: -9.72
  • Swap Short: -6.96
  • Margin Group: FX Majors
  • Margin Currency: GBP
  • Tick size: 0
  • Trading Platform: MetaTrader 4
  • Minimum Volume: 0.01
  • Maximum Volume: 0
  • Trading Schedule EET: 00:00 - 23:59 Mon - Fri
  • Hedged Margin: 1
  • Days Swap: FX Wednesday, metals-indices-oil friday

History of GBPNZD

The history of the GBPNZD currency pair reflects the economic and financial interactions between the United Kingdom and New Zealand. Over time, this pair has witnessed fluctuations influenced by various factors, including changes in economic policies, interest rates, commodity prices, geopolitical events, and global market sentiment. The United Kingdom is a major global financial center, while New Zealand is known for its agricultural and commodity sectors. These distinctions contribute to the dynamics of the GBPNZD exchange rate. Traders and investors closely monitor this pair for insights into the relative strength of the British Pound and the New Zealand Dollar, making it a relevant component of the forex market.

currency pair gbpnzd

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Frequently Asked Questions

GBPNZD is a forex currency pair that represents the exchange rate between the British Pound GBP and the New Zealand Dollar NZD. In this pair, GBP is the base currency, and NZD is the quote currency. It tells you how much one British Pound is worth in New Zealand Dollars. Traders and investors use GBPNZD to assess the relative strength of these two currencies and make informed decisions in the forex market based on economic, political, and global market factors impacting the United Kingdom and New Zealand.

To trade the GBPNZD pair, it is essential to conduct careful analysis and stay informed about the factors that influence the British pound GBP and the New Zealand dollar NZD. Start by monitoring economic indicators, such as interest rates, GDP growth, inflation rates, and employment data for both countries. Keep track of news releases and events that may impact the currency pair. Utilize technical analysis tools, such as chart patterns, trend lines, and oscillators, to identify potential entry and exit points. Consider using risk management techniques like setting stop-loss orders and profit targets to manage your trades effectively. Regularly review and adjust your trading strategy based on market conditions and performance evaluation.

The trading hours for GBPNZD can be found here

Popular trading strategies for the GBPNZD pair include trend following, range trading, breakout trading, and carry trade strategies. Trend-following strategies involve trading in the direction of the prevailing trend, whether it’s upward or downward. Range trading focuses on profiting from price oscillations within a defined range, buying near support levels and selling near resistance levels. Breakout trading aims to capitalize on price movements when the exchange rate breaks significant support or resistance levels. Carry trade strategies involve borrowing in a currency with a low-interest rate (like the New Zealand Dollar) and investing in a currency with a higher interest rate (like the British Pound), earning profits from the interest rate differential. Traders often choose strategies that align with their trading style and risk tolerance.

When trading the GBPNZD pair, consider factors such as economic indicators from the United Kingdom and New Zealand, central bank policies, commodity prices, geopolitical events, and broader market sentiment. Economic data like GDP, employment figures, inflation rates, and manufacturing data in both countries can significantly impact the exchange rate. Monitor the monetary policies of the Bank of England and the Reserve Bank of New Zealand, as interest rate decisions and statements can influence trader sentiment. Be aware of geopolitical developments and overall market sentiment, as these factors can also play a role in GBPNZD’s price movements. Staying informed and conducting thorough analysis is essential for successful trading in this currency pair.