How to trade
NZD/CAD

NZDCAD is a cross-currency pair that reflects the exchange rate between the New Zealand Dollar and the Canadian Dollar. Investors willing to learn how to trade NZDCAD should keep tabs on both economies with substantial reliance on commodity exports.

How to trade NZDCAD?

Traders looking to engage with the NZDCAD pair must account for the relationship between New Zealand’s primarily agriculture-driven export economy and Canada’s resource-based market, notably influenced by crude oil and minerals. For those wondering how to trade NZDCAD, the SimpleFX platform provides a demo account. It enables a risk-free environment to understand the details of this currency pair.

After switching to a live account, investors can experience trading without minimum deposit and trade commissions. Moreover, the SimpleFX platform gives access to tools enabling conducting technical and fundamental analysis.

What is the best time to trade NZDCAD?

The forex market is open 24/5 worldwide. However, the popular time to trade the NZDCAD is during the overlap of the Asia-Pacific and North American sessions, which can see increased liquidity as both New Zealand and Canadian markets are active.

There is a noticeable time window of enhanced liquidity when the London Stock Exchange and the New York Stock Exchange overlap. Excluding rare exceptions, this period stands between 1 PM and 5 PM GMT. Navigating this window, traders may experience increased market activity, but they must always stay alert to the volatility inherent in peak times.

Is The NZDCAD price going up or down?

Predicting the direction of NZDCAD is not possible due to the constantly changing global and domestic factors, with a particular focus on dairy prices for the NZD and oil prices for the CAD. Additionally, economic policies set forth by the Reserve Bank of New Zealand and the Bank of Canada, such as changes in interest rates, can significantly influence this currency pair.

The unpredictability of the market means even well-researched decisions carry inherent risks, which drives investors to stay updated all the time.

Investors can check the current NZDCAD price on the chart above or the SimpleFX platform.

Is NZDCAD a popular currency pair?

While not as popular as the major currency pairs, NZDCAD brings an interest in commodity-based currencies. Moreover, investors seek that asset to diversify from the majors.