EUR/NZD is the exchange rate between the euro and the New Zealand dollar, and a minor forex pair. The live EUR/NZD price calculates how many New Zealand dollars (NZD) it takes to buy a single euro (EUR).
The New Zealand dollar sees the lowest volume of the eight major currencies,* which can mean EUR/NZD has lower liquidity than many other minor pairs. In fact, several ‘exotic’ currencies including the Korean won, Swedish krona and Norwegian krone are traded more than NZD.
New Zealand is a major exporter to China, so some traders use NZD to get exposure to the Chinese economy.
Futures point to a mixed start as investors look ahead to a keenly awaited speech by Fed Chair Powell. Biden's State of the Union address is also due later.
EUR/USD is one of the most traded currency pairs in the world. It represents the value of the US dollar per one euro. The euro is a relativity new currency when compared with the other majors, it was established by the provisions in the 1992 Maastricht Treaty and is managed by the European Central Bank (ECB) and the Eurosystem (comprised of the central banks of the eurozone). Member nations of the euro are all part of the EU but not all EU nations are part of the euro (e.g. Denmark).
Price drivers
A general rule is that the larger the GDP of a country in the Eurozone, the larger their impact on the euro. In this regard, economic data and policy decisions in Germany (which has the highest GDP in the Eurozone as of 2018) can have a significant impact on EUR. Shakeups within the Eurozone, such as the United Kingdom’s Brexit, can of course cause euro volatility as well. However, smaller countries also can affect the euro, especially in times of crisis that threaten the economic stability of the region and possibility cause s domino effect. Other data including GDP growth, employment, inflation and trade balance data are important. The ECB dictates interest rates for the region and can cause the euro to move significantly through other policy decisions it makes.
USD can be influenced by labor market data – in particular non-farm payroll (NFP) results and the level of unemployment – US GDP and inflation data, interest rates and the Fed.
Distance shows the difference between the pivot point and bid rate. It is calculated by subtracting the ask rate from the pivot point rate.
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Understanding Pivot Points
Pivot points are used by traders as a predictive indicator and denote levels of technical significance. When used in conjunction with other technical indicators such as support and resistance or Fibonacci, pivot points can...Read More
