The New Zealand Dollar (NZD) versus Canadian Dollar (CAD) currency pair is one of the most popular major pairs for traders. The NZD/CAD is an attractive pair to watch due to its high volatility and liquidity. This makes it easy to enter and exit trades in this pair quickly and profitably.
Traders often look at the interest rate differential between New Zealand and Canada when trading this pair. New Zealand typically has a higher interest rate than Canada, which can lead to NZD appreciation in comparison to CAD when the spread is wide. Additionally, this currency pair tends to be sensitive to commodity prices, especially commodities that are exported by both countries. As a result, keen traders and investors should pay attention to commodities such as dairy, lumber, and minerals.
The NZD to CAD currency pair has seen some significant swings since its inception in 2000. The pair managed to reach its highest point of 0.98 on the 4th of November 2016, while also hitting one of its lowest points of 0.60 on the 6th of October 2000. This shows that there is a wide range of potential for traders to benefit from the volatility of this pair.
Therefore, it is important to keep an eye on the price history and determine if there are any potential opportunities for profitable trades. Additionally, understanding when the highest and lowest points were reached in the past can help traders anticipate which direction the prices may go in future. With a bit of research, traders can make informed decisions and capitalize on the fluctuations of this currency pair.
The NZDCAD currency pair is an attractive choice for traders due to its potential volatility. This pair consists of the New Zealand dollar and the Canadian dollar, two currencies with a strong presence in global financial markets. The combination of these two currencies creates a unique set of trading opportunities that can yield great returns if managed intelligently.
In addition to NZDCAD, traders should also consider the AUDJPY and EURGBP currency pairs. These pairs combine two of the world’s most important currencies—the Australian dollar and Japanese yen, as well as the euro and British pound—creating opportunities for greater trading variety. When trading these pairs, it is important to be mindful of the trends and correlations that exist between them, as these can affect your overall returns.
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* The spreads provided are a reflection of the time-weighted average. Though Skilling attempts to provide competitive spreads during all trading hours, clients should note that these may vary and are susceptible to underlying market conditions. The above is provided for indicative purposes only. Clients are advised to check important news announcements on our Economic Calendar, which may result in the widening of spreads, amongst other instances.
The above spreads are applicable under normal trading conditions. Skilling has the right to amend the above spreads according to market conditions as per the 'Terms and Conditions'.
Why Trade [[data.name]]
Make the most of price fluctuations - no matter what direction the price swings and with low capital investment.