New Zealand Dollar/Canadian Dollar (NZD/CAD) Exchange Rate
NZD/CAD Pivot Points
NZD/CAD Latest Updates
New Zealand is likely to suffer long-term damages related to industry destruction from the Covid-19 pandemic.
After the Reserve Bank of New Zealand announced NZ$30 billion worth of domestic bond purchases, the NZD/CAD was able to complete a double breakout.
Volatility in the NZD/CAD spiked after OPEC+ determined to end their agreement to limit supply and stabilize prices.
Fourth-quarter retail sales in New Zealand contracted more than predicted, but January credit card spending showed resilience.
New Zealand Prime Minister Ardern confirmed that the economy is facing disruptions due to the deadly coronavirus, but noted they are manageable.
Commodity demand is depressed as a result of constant new threats to the slowing global economy, like the spreading of a deadly string of coronavirus
Get the weekly Forex forecast for major currency pairs for the week of January 20, 2020 here.
After this currency pair descended into its short-term support zone, the corrective phase ended.
Bearish momentum is accumulating after this currency pair pushed into its resistance zone on the back of the low volume.
Bearish momentum in the NZD/CAD is expected to pressure for more downside after price action completed a breakdown below its resistance zone.
New Zealand reported an increase in house prices as well as in commodity prices which prevented a breakdown in the NZD/CAD to materialize.
This morning’s New Zealand trade data showed an increase in exports for October over September, but the trade deficit widened slightly more than expected
Following a strong advance in the NZD/CAD, the uptrend is exhausted and vulnerable to a corrective phase.
Volatility in the Canadian Dollar increase after the Bank of Canada opened the door to a possible interest rate cut, but bond markets in the US suggests that pressure on interest rates may be to the upside.
The month of March has been very noisy for the New Zealand dollar overall, but as Forex traders we need to go to where the action is.
The New Zealand dollar has fallen a bit over the last several weeks, and then started to consolidate against the Canadian dollar.
The New Zealand dollar has been very bullish against the Canadian dollar of the last several months, but December started to see significant resistance from around the 0.9250 level.
Get the NZD/CAD Forex signal for October 25, 2016 here.
The NZD/CAD pair initially fell during the course of the day on Friday, but drove much higher and finally reached the 0.90 level, an area that we have been talking about for some time now.
The NZD/CAD pair is a market that we’ve been paying attention to recently. While they are both driven by moderate easing general, the reality is that certain commodities are going to be more sensitive to economic conditions at the moment than others.