The New Zealand dollar currency pair to the Canadian dollar is considered a low liquid financial instrument. When trading this pair should be guided by economic indicators of New Zealand and the United States, such as discount rates, unemployment rates, GDP indicators, business levels and others.
The economy of New Zealand is based on agriculture: the production and processing of dairy products and sheep wool, which is exported all over the world. The country aspires to receive electricity from renewable sources, which in 2018 completely closes coal generation. After filming the kinotrilogy "The Hobbit" and "The Lord of the Rings" in New Zealand, the tourist business began to develop actively.
The value of the Canadian dollar is directly dependent on world oil prices, as Canada is one of the largest suppliers of oil: with the increase in oil prices, the Canadian dollar strengthens, with decline - weaken. The Canadian dollar is a commodity currency.
The NZD / CAD currency pair is built on the principle of direct quotation. The base currency is NZD, the New Zealand dollar, and the quoted currency is CAD, the Canadian dollar. The growth of the currency pair means the strengthening of the New Zealand dollar against the Canadian dollar, that is, more CAD is required to buy one NZD. A decrease in the exchange rate indicates the strengthening of the Canadian dollar.
Using the current exchange rate chart, you can monitor the volatility of the currency pair in real time.
The Canadian dollar - (currency sign - $ or C $, bank code: CAD) - the currency of Canada. It was introduced in 1858. The Central Bank of Canada has the right of issue and regulation. Refers to commodity types of currency, as it depends on the export of goods (oil, sulfur). Unofficial names: "Luni" and "small dollar".
New Zealand Dollar - (bank code: NZD) - often referred to as "kiwi" - the official currency of New Zealand, also on the islands: Niue, Cook Islands, Tokelau and Pitcairn. The central bank of the country that also issues currency is the Reserve Bank of New Zealand. Since 1999, New Zealand dollars have been printed on plastic.
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