The combination of New Zealand dollars and US dollars is not so major. Compared to AUD / USD, the price movement is small and it is a little unsuitable for scalping and day trading. It will be a currency pair for swing trading. In addition, New Zealand has Australia next to it, so it depends on the situation in Australia. On the other hand, it is a currency pair that even beginners can recommend because price movements are easy to stabilize.
Difficulty
Recommended for Forex beginners to advanced users. Since extreme price movements are unlikely to occur, all funds will not disappear with one shot. It will be a currency pair for swing trading. Not suitable for scalping or day trading.
Recommended trading time
Since the New Zealand dollar moves in Asian time and the US dollar moves in US time, there is a 24-hour price movement. Trading is always recommended.
Recommended trading style
Not suitable for scalping and day trading. It is also unsuitable if you want to take a large price range with trend following. If you are aiming for a one-sided trend, we recommend the Australian dollar. It is suitable for taking a moderate price range with a swing.
Economic indicators to watch out for
New Zealand’s indicators are unlikely to move that much. Policy interest rates, GDP, unemployment rate and so on.
The US dollar is also the key currency, and it has a great impact on all currency pairs, not just this currency pair. Therefore, it is necessary to pay attention not only to the policy interest rate, GDP and unemployment rate, but also to the international situation such as politics, social situation and war.
When the New Zealand dollar moves
In the case of the New Zealand dollar, it is necessary to check the Australian economic indicators at the same time as the domestic economic indicators. Being a neighboring country and having many points of contact, it is greatly influenced by the situation in Australia. And because Australia depends on China’s economy and politics, so does New Zealand.
When the US dollar moves
Also, in the case of the United States, as it is called the police of the world, it is very sensitive to the influence of world affairs. Please note that some economic sanctions and military activities can move the dollar significantly.
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