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country currency pairs nzdcad

New Zealand Dollar vs Canadian Dollar

New Zealand Dollar vs Canadian Dollar (NZDCAD)

The NZDCAD currency pair represents the exchange rate between the New Zealand Dollar NZD and the Canadian Dollar CAD. It reflects the economic and trade relationships between New Zealand and Canada.

-.-- -.--%
Annual change
-.--%
All time High / Low
0.76245 / 0.99264
Buy

--.--

Sell

--.--

-.-
Daily price range:
Low
0.83739
High
0.83833

NZDCAD Contract Specifications

  • Minimum Spreads, points: 0
  • Contract Size per Lot: 100000
  • Swap type: Points
  • Swap Long: -0.71
  • Swap Short: -4.38
  • Margin Group: FX Majors
  • Margin Currency: NZD
  • 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 NZDCAD

The history of the NZDCAD currency pair, which represents the exchange rate between the New Zealand Dollar NZD and the Canadian Dollar CAD, reflects the dynamics of two commodity-driven economies. New Zealand, known for its agricultural exports, and Canada, a significant oil producer, both contribute to the pair’s volatility. Over the years, economic indicators, interest rate differentials, and shifts in global commodity prices have influenced NZDCAD. Traders often use this pair to speculate on changes in commodity markets and the relative strength of the New Zealand and Canadian economies, making it an important instrument in forex trading.

currency pair nzdcad

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Frequently Asked Questions

NZDCAD is a forex trading pair that represents the exchange rate between the New Zealand Dollar NZD and the Canadian Dollar CAD. In this currency pair, the NZD is the base currency, and the CAD is the quote currency. When you see the NZDCAD exchange rate, it tells you how many Canadian dollars you need to purchase one New Zealand dollar. Traders and investors use this pair to speculate on the relative strength or weakness of these two currencies and make trading decisions based on their analysis of economic data, market sentiment, and other factors impacting these currencies.

Trading the NZDCAD currency pair involves several steps. First, you need to create an account. Conduct thorough market analysis, considering both technical and fundamental factors such as economic indicators and news releases from New Zealand and Canada. Develop a trading strategy that outlines your entry and exit points, along with risk management techniques. Utilize your broker’s trading platform to execute your trades based on your strategy, and consider using stop-loss and take-profit orders to manage risk. Continuously monitor the pair’s price movements, stay informed about relevant global economic events, and adapt your strategy as needed. Keep in mind that forex trading carries inherent risks, so it’s crucial to implement a well-defined trading plan and risk management strategy.

The trading hours for NZDCAD can be found here

Popular trading strategies for the NZDCAD currency pair include trend following, range trading, and fundamental analysis. Trend-following strategies involve identifying and capitalizing on sustained price movements in one direction. Range traders, on the other hand, aim to profit from price oscillations within a defined range, buying at support levels and selling at resistance levels. Fundamental analysis focuses on assessing economic data and news releases from New Zealand and Canada to predict currency movements. Additionally, traders often employ technical analysis tools like moving averages, RSI, and Fibonacci retracement levels to make informed trading decisions when trading NZDCAD. The choice of strategy depends on individual preferences, risk tolerance, and market conditions.

When trading the NZDCAD currency pair, consider several key factors. Keep an eye on economic data and events in both New Zealand and Canada, including GDP, employment figures, and central bank policies. Interest rate differentials and changes in monetary policy can significantly impact exchange rates. Additionally, monitor global economic conditions and risk sentiment, as these factors can influence the currency pair. Employ technical analysis tools to identify trends and support/resistance levels, and implement effective risk management strategies to protect your trading capital. Be aware that the NZDCAD pair can also be influenced by commodity prices, as both New Zealand and Canada are commodity-exporting countries. Stay informed about developments in these sectors as well.