The NZD/CAD currency combination is not widely traded outside New Zealand, but it has yet a niche place to fill in the portfolio of the experienced investor. The performance of the pair depends on the relationships of two major world economies: Canada and New Zealand. They are affected by many unrelated factors that make this combination largely unsuited to novice traders, but in the hands of professionals, it can be a great instrument for the diversification.
Keep in mind that the main factors mostly affect NZD/CAD are world oil prices, Canada and New Zealand monetary policy, Trade balances of both countries, other economic indicators with three marks (in the Economic calendar), raw materials and agricultural products prices, as well as the weather and climatic news. Also, stay tuned with the latest oil quotes, as well as prices for the raw materials and industrial products: these areas are very important for Canada.
If you are interested in trading the NZD/CAD currency pair, contact FxPro today and open trading account in several minutes.