Currency pair NZDCAD is the relation of the New Zealand dollar against the Canadian dollar. NZDCAD is a cross-rate and shows how many Canadian dollars cost one New Zealand dollar. The economy of New Zealand and its basic elements, including GDP, an interest rate, trading and business activity has the greatest impact on the trading instrument. The current positions of USA national currency also have a strong impact on pair movement.
The dynamics of the NZDCAD trading instrument in many respects depends on fundamental indicators of the main trading partners of New Zealand and Canada, including the USA, Australia and the countries of Asia. New Zealand is oriented generally for export, being the largest world supplier of sheep wool and products from it. The price of oil and oil products has an impact on the force of the Canadian dollar, quotes of the tool are directly connected with the price of “black gold”. The best results during the work with this trading instrument are brought by trend trading on the current levels of support and resistance.