Convert AUD to NZD
Typically, the AUD/NZD exhibits an average movement of around 70 pips.
Both Australia and New Zealand economies depend heavily on trade as they are leading exporters of key commodities into the international market. Whenever either country posts a strong trade surplus, i.e. by generating higher exports than imports, it contributes to its GDP and serves to strengthen its economy. For instance, a higher trade surplus in Australia boosts its economy and strengthens the AUD in turn, causing AUD/NZD to trade bullish.
Although the AUD and NZD share a close correlation with each other, this currency pair sees significant volatility as both the Australian dollar and the New Zealand dollar are commodity currencies. As a result, the pair can see unexpected levels of volatility, and requires considerable fundamental and technical expertise to trade successfully.