Convert NZD to CAD - New Zealand dollar to Canadian dollar Exchange Rate | FX LeadersFX Leaders
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WHAT IMPACTS THE NZD/CAD EXCHANGE RATE
The NZD/CAD symbol represents the currency pair of the New Zealand dollar and the Canadian dollar, two of the most popular commodity currencies in the forex market. As a result, this forex pair offers ample volatility and opportunities for experienced traders to generate good profits, as long as they trade with care.The value of the NZD is closely correlated with the prices for dairy, meat and wool - key exports from New Zealand. In addition, the NZD is also closely interlinked with the AUD, another important commodity currency, owing to geographical and economic proximity between New Zealand and Australia. Meanwhile, the CAD enjoys a close correlation with crude oil, Canada's most important export. Hence, the NZD/CAD currency pair's exchange rate experiences significant volatility when the prices of leading commodities, including crude oil, dairy, meat and even gold and iron ore fluctuate.This currency pair also trades the market sentiment, as commodity currencies like the NZD and the CAD benefit from a risk-on sentiment and experience sharp sell-offs when markets turn risk averse and move towards safer instruments instead. A risk-on sentiment drives higher levels of volatility and activity in this currency pair, making it an exciting time to place trades in this forex pair.
NZD to CAD CONVERSION RATES
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NZD to CAD CHARTS
NZD/CAD Live Chart
NZD/CAD Historical Chart
NZD to CAD EXCHANGE RATE - FAQ
What economic events can impact the exchange rate of NZD/CAD?

The exchange rate of the NZD/CAD currency pair can be affected by the release of key economic data from New Zealand and Canada, including GDP, employment, trade balance, consumer confidence, business sentiment and inflation.

How do central bank decisions affect the value of the NZD/CAD currency pair?

The NZD and CAD experience significant fluctuations during the meetings of the Reserve Bank of New Zealand (RBNZ) and the Bank of Canada (BOC), especially if either bank makes changes to its monetary policy or interest rates. For instance, if the BOC lowers interest rates or turns dovish about its monetary policy, it weakens the CAD and turns the NZD/CAD bullish.

How safe is it for newbie forex traders to trade NZD/CAD?

The NZD/CAD is a highly volatile currency pair as both currencies are considered commodity currencies. The high level of unpredictability in the moves of this currency pair make it a tricky pair to trade without experience in performing fundamental and technical analysis.