May 13, · The History of the New Zealand Dollar. Before the New Zealand Dollar was introduced in , the nation’s currency was the New Zealand Pound, which was distinct since from the Pound blogger.comgh discussion had taken place about changing to a decimal form of currency in New Zealand in the s, in fact this only came to pass in the s Jun 04, · The US forex session (New York) starts at EST ( UTC) and closes at EST ( UTC). The USD, EUR, GBP, AUD (Australian dollar), JPY (Japanese yen) and CAD (Canadian dollar) & NZD (New Zealand Dollar) are the most traded forex currencies during the US forex trading times. Best Time to Trade Forex Mar 11, · This time period tends to have the most liquidity for the Australian and New Zealand Dollars and their crosses. Trading in Australia and New Zealand overlaps with Tokyo from PM and then with Singapore and Hong Kong from PM until Midnight when New Zealand closes and AM when Sydney blogger.com: Forextraders
New Zealand - blogger.com
The country is made up of two main islands, the North Island and the South Islandand several smaller islands.
Famous for hosting a larger population of sheep than people, New Zealand is home to about four million residents. To put that into perspective, New York City alone had a population of 8.
Its GDP, which is valued at billion USD inranks 51st among the world economies. Their economic activity is largely dependent on trade, mostly with the Land Down Under Australiathe Land of the Rising Sun Japanand Uncle Sam U.
It is an export-driven economy, with its main exports such as ores, metals, and wool comprising a third of its GDP. It also exports much of its cattle and dairy products.
Its primary industries are agriculture and tourism, and they only have small manufacturing and technology sectors. Because of that, its imports from other countries comprise mostly of heavy machinery, equipment, vehicles, and electronic products. Since the country has removed many barriers to foreign investment, the World Bank has praised New Zealand for being one of the most business-friendly countries in the world, second to Singapore.
The Reserve Bank of New Zealand RBNZ when is new zealand dollar most active forex in charge of the monetary and fiscal policy of the nation. Currently headed by Governor Alan Bollard, the RBNZ holds monetary policy meetings eight times a year. The RBNZ is tasked with maintaining price stability, setting interest rates, when is new zealand dollar most active forex, and monitoring output and exchange rates.
To achieve price stability, the RBNZ must ensure that annual inflation meets the 1. The official cash rate OCRwhich affects short-term interest rates, is set by the RBNZ Governor. By lending 25 basis points above this rate and borrowing at 25 basis points below the OCR to commercial banks, the central bank is able to control the interest rates offered to individuals and businesses. Open market operations are used to meet the cash target or the amount of reserves parked in commercial banks.
By forecasting the cash target daily, the RBNZ is able to calculate how much money to inject into the economy in order to meet the target. Since a higher GDP reflects a strong economic performance, it could lead to an appreciation of the Kiwi. Conversely, falling commodity prices result in a lower monetary value of exports, making a smaller contribution to GDP. A lower GDP could then cause the Kiwi to depreciate.
For instance, when the Australian economy does well, Australian firms pump up their importing activities, and guess who benefits from that?
New Zealand, of course! Just like Australia, New Zealand enjoys higher interest rates compared to other major economies, such as the U. In other words, the higher the interest rate, the more money flows in. This is because as the population grows, the when is new zealand dollar most active forex for goods and overall consumption increases.
Gross Domestic Product — Just like any other nation, the gross domestic product GDP serves as an economic report card for New Zealand. By serving as a gauge of overall economic performance for New Zealand, it influences the demand for the NZD. Consumer Price Index CPI — The consumer price index measures the change in price levels.
As a measure of inflation, it is closely watched by the RBNZ in determining changes in monetary policy. Positive GDP growth reflects the strong economic standing of New Zealand, boosting demand for its currency. Negative GDP growth highlights the poor economic performance of the country, dampening demand for the NZD. Falling commodity prices, on when is new zealand dollar most active forex other hand, cause the monetary value of exports to fall, dragging its GDP down. Since the counter currency is the US Dollar, the changes in value are measured in Greenbacks.
Margin calculations are based in US dollars. For instance, if the current NZDUSD rate is 0. A 10, NZD position requires 70 USD in available margin.
dollar, it requires the least amount of available margin among the other majors. Weak economic reports, on the other hand, push the NZD down. In recent history, commodity prices tend to surge when demand for riskier assets is also strong. During these times, investors place their money in higher-yielding assets such as gold and other commodities and sell the lower-yielding U.
As a result, when is new zealand dollar most active forex, the commodity-based Kiwi gains strongly against the safe-haven US. On the other hand, when risk aversion forces investors to flee back to the safe-havens, the NZD edges lower against the USD.
Just like the AUD, the NZD is also a good candidate for carry trade. Partner Center Find a Broker. Next Lesson Switzerland. If at first you don't succeed, try try again. W,C, Fields.
How I made $21,000 in 6 days trading in New Zealand (NZDayTrading101)
, time: 20:14Forex Trading in New Zealand • Forex Strategies • Benzinga
Feb 02, · For instance, during the New York market, the British Pound, US Dollar, Australian Dollar, Euro, Canadian Dollar, Japanese Yen and New Zealand dollar are extremely active and when the London market is open, the Swiss Franc, Euro, British Pound Jun 04, · The US forex session (New York) starts at EST ( UTC) and closes at EST ( UTC). The USD, EUR, GBP, AUD (Australian dollar), JPY (Japanese yen) and CAD (Canadian dollar) & NZD (New Zealand Dollar) are the most traded forex currencies during the US forex trading times. Best Time to Trade Forex Jun 27, · New Zealand Dollar (NZD) Forex Price Quotes The Forex Metals Rates page contains cross-rates for different precious metals. The Forex Metals Rates page is updated throughout the trading day with new price information, as indicated by a "flash" on the fields with new data
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