New Zealand Dollar vs Canadian Dollar •NZDCAD•



NZDCAD is the abbreviation for the cross between the New Zealand dollar and Canadian dollar. Both are regarded as commodity currencies as they are dependent on commodity export prices like oil(CAD) and agriculture(NZD). The cross currency pair is often considered volatile, unpredictable and erratic hence is best suited for traders with a high-risk appetite. The New Zealand dollar has close ties with Australia and Asian emerging markets while the CAD is closely aligned with the United States. Therefore it is important for traders to watch the performance of the Australian, Asian and American markets as well as interventions by the Bank of Canada (BOC) and the Reserve Bank of New Zealand (RBNZ).

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