AUDNZD exchange rate
AUD/NZD
AUDNZD Key Statistics
Trading hours
Symbol trading specification
About AUDNZD
AUDNZD, or Aussie/Kiwi, is a trading instrument involving two risk-on currencies – the Australian dollar (AUD) and the New Zealand dollar (NZD). It corresponds to how many New Zealand dollars are needed to purchase the Australian dollar.
What is AUDNZD?
The AUDNZD currency pair involves currencies of nearby countries, i.e., Australia and New Zealand, and it shows how many NZDs investors must have to buy one AUD. These countries are closely located, so their currency pairs trade similarly against other currencies. However, in comparison to each other, several factors affect their exchange rate. One of the most significant factors is the fluctuations in the export commodities of both nations. As a commodity-based economy, Australia ships energy products and metal, and New Zealand exports milk, meat, and wool. Any increase or decrease in exports also causes the exchange rate to fluctuate. Investors eager to find out how to trade AUDNZD must consider these factors.
How does AUDNZD work?
The AUDNZD is traded on the SimpleFX platform. Here, the investors use a carry trade strategy, which involves borrowing funds in a low-yielding currency and investing them in a higher-yielding currency. This results in the two currencies' loss or profit from the interest rate differentials. Investors can also use other strategies such as technical analysis, fundamental analysis, news trading, and scalping. That's several ways for them to find out how to invest in AUDNZD.
