Trade GBPNZD

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Thinking of trading GBPNZD?

    1. Powder milk is one of the top exports to China. Accordingly, any move in the Chinese economy, like GDP growth or slowing, is very significant to the pair's direction, as when the demand for New Zealand products go up, the milk price will also increase, which will boost the NZD against its rivals. You should definitely get involved with this pair if you are a trader that follows the Chinese currency and events. 2. The physical proximity and close trading relationship with Australia make of this a potential correlation with the AUD pairs. Therefore, those who are already trading the AUD could also double their exposure with the GBP/NZD, also If you follow fundamental analysts and events such as the Dairy Index and Tourism you should definitely get involved with this pair.
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Due to its small territory located a considerable distance of the major players in the world economy, New Zealand is highly dependent on trade. Its export key players are Australia with a 20% share and China. The New Zealand Pound was the official currency until the New Zealand Dollar was introduced in 1967.GBP was decimalised in 1971 even though it dates back to around 775. It is the fourth most-traded currency across the globe.It is interesting to mention that the BoE's (Bank of England) monetary policy is based on that one of the Reserve Bank of New Zealand. The pair is currently trading at 1.9345.

1. Any interruption to large external investments from the UK will impact the currency rates. As Britain's economy is much larger than the Kiwi's economy, the pair is likely to move more heavily on one side than the other when economical events have place. Uncertainty like the Brexit can put additional pressure on the pair. 2. The main economic indicators that could affect the NZD/USD pair would be: Interest rate decision from the RBNZ, the GDP of both nations, CPI of both countries, the Producer Price Index, employment changes, trade balance and several political events such as trading news with Australia or China.

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