EUR/NZD Forex Trading
EUR/NZD Forex Trading
EUR/NZD Live Charts
Use our EUR vs NZD chart to get the most up-to-date insight into the recent performance of this pair and other currency pairs used in forex trading. It can help you make informed decisions at home or on the go – no matter if you use the TickTrader desktop platform, web terminal, or mobile app. Our real-time chart includes the very latest price, historical data, and technical analysis tools to help guide your next trade.
What Is EUR/NZD Trading?
EUR/NZD represents the currency pair of the euro and the New Zealand dollar (a kiwi). In this pairing, the value of one euro is quoted in terms of New Zealand dollars. For example, if the exchange rate is 1.70, it means 1 euro equals 1.70 New Zealand dollars.
EUR/NZD is a cross or minor currency pair, as it does not involve the US dollar. However, it comprises two major currencies of major economies. Therefore, traders pay great attention to this pairing.
The euro/New Zealand dollar pairing often changes its direction. Therefore, it’s vital to have an opportunity to forecast price fluctuations quickly and execute trades without delays. FXOpen offers ultra-fast trade execution, low commissions, and spreads from 0.0 pips.
EUR/NZD Historical Performance
On January 1, 1999, the euro made its debut as the official currency of the Eurozone. EUR/NZD came into existence as a tradable currency pair after this event.
Over history, the long-term trends of the euro/kiwi pair changed many times. Despite the global financial crisis of 2007-2008, the pair surged above 2.5, a level not seen since 2000. However, the price corrected soon after and reached 1.4 in 2015. The European Debt Crisis (2010-2012) contributed to the weakness of the euro.
Since then to the present time, the pair hasn’t experienced such significant price fluctuations but has changed its direction numerous times. The monetary policies of the European Central Bank (ECB) and the Reserve Bank of New Zealand (RBNZ) played a role in influencing the markets. Divergences in interest rate policies between the Eurozone and New Zealand can impact the EUR/NZD value.
Major Factors That Affect the EUR/NZD Pair
Economic data from both the Eurozone and New Zealand play a crucial role in determining the strength and performance of their respective economies. Key indicators such as GDP growth, employment, inflation, trade balances, and consumer confidence can influence the markets.
Central banks' monetary policies and interest rate decisions have a substantial impact on this pairing. Higher interest rates in the Eurozone relative to New Zealand tend to attract foreign investors seeking better returns, leading to increased demand for the euro and causing the EUR/NZD value to rise.
New Zealand is a significant exporter of commodities such as dairy products, wool, and meat. Fluctuations in commodity prices can impact New Zealand's economy and, consequently, the kiwi's value against the euro.
Trade relations and agreements between the Eurozone and New Zealand can influence their respective currencies' performance. There is a Free Trade Agreement between the parties. Changes in trade balances and export-import dynamics can impact the exchange rate.
Are you interested in this pair? You can start trading it with FXOpen right away!