The exchange rate of the euro to the New Zealand dollar on Forex
EURNZD, a currency pair consisting of the euro and the New Zealand dollar, is highly volatile. The average daily movement range can reach 300-350 points, which exceeds the volatility of the main popular pairs and gives an opportunity to get bigger profit from this instrument by an order of magnitude. The New Zealand dollar is one of the high-yielding commodity currencies. The EURNZD course is influenced by the foreign and domestic economic policies of the countries of the Eurozone and New Zealand. However, when predicting the movement of this instrument, it is necessary to take into account the main macroeconomic indicators of the USA (refinancing rate, GDP level, labor market data) in addition to other fundamental factors related to the issuing countries of the pair's currencies. The movement of the pair is most active during the Pacific and European sessions. During the American session, the quotes of the pair are inactive with either a flat or weak movement towards the previous trend. The EURNZD pair strongly correlates with the EURAUD, which, however, is more placid. The synchronous movement of both currency pairs is explained by the interconnection and similarity of the economies of major trading partners - New Zealand and Australia.
The current cross-rate of the euro to the New Zealand dollar is presented in the current EUR/NZD quotations chart below.
Risk warning: Trading in FX and CFDs entails high risk of losing capital.