Forex Smart Trade Results, Tuesday, August 27, 2024 – $7,747
Forex Smart Trade Results, Monday, August 26, 2024 – $1,150
September 11, 2024
Forex Smart Trade Results, Wednesday, August 28, 2024 – $5,680
September 11, 2024
What Moves the NZD?
Economic Growth
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.
Surge in Exports
Higher demand for New Zealand’s products often results in a higher GDP, which then boosts the NZD.
In contrast, lower exports make a smaller contribution to GDP, causing the NZD’s value to fall.
Rising Commodity Prices
Increasing commodity prices cause the monetary value of New Zealand’s exports to rise, pushing its GDP higher.
Falling commodity prices, on the other hand, cause the monetary value of exports to fall, dragging its GDP down.
Trading NZD/USD
Since the counter currency is the US Dollar, the changes in value are measured in Greenbacks.
On a 100,000 unit NZD/USD position, each pip movement is worth $10 USD while on a 10,000 NZD/USD position size, each pip movement is worth $1 USD.
Margin calculations are based in US dollars.
For instance, if the current NZDUSD rate is 0.7000 and leverage is 100:1, 700 USD in available margin is required for a 100,000 NZD position. A 10,000 NZD position requires 70 USD in available margin.
You see, because of the Kiwi’s relatively low value against the U.S. dollar, it requires the least amount of available margin among the other majors.
That means it’s cheaper to trade the Kiwi!
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