EURNZD exchange rate
EUR/NZD
EURNZD Key Statistics
Trading hours
Symbol trading specification
About EURNZD
The EURNZD shows the number of NZD, the currency of New Zealand, required to purchase one EURO, the currency of the Eurozone. Both currencies are highly important. For instance, the EURO is the second most traded currency in the world, and NZD is among the world’s high-yielding commodity currencies.
What is EURNZD?
The EURNZD pair is also known as the Euro Kiwi and is traded on the forex market. The countries' central banks manage both currencies, i.e., the Reserve Bank of New Zealand (RBNZ) and the European Central Bank (ECB). Changes in the monetary policies of these banks greatly influence currency pair values. Besides, many other key factors cause currency price fluctuations.
Economic data refers to the facts and figures that tell about the economic state of a country. For instance, it includes the inflation rate, employment rate, trade balance, etc. Political events like changes in government policies regarding tax, trade, elections, political crises, etc., significantly influence the EURNZD pair. Moreover, commodities such as dairy products, meat, and wool are the major exports of New Zealand. When the price of these commodities changes, it impacts trade balance, inflation, market sentiment, etc., which causes fluctuations in the exchange rate. Investors who want to understand how to trade EURNZD should be aware of these factors.
How does EURNZD work?
It works through trading in the forex market on online platforms like SimpleFX. It provides solutions such as a demo account, which enables traders eager to learn how to invest in EURNZD start without risking their real assets.
Besides already mentioned factors, investor sentiment, market volatility, etc., also play their role in changes in the EURNZD price.
