EURNZD (EURNZD^)

Pairing – The amount of New Zealand dollars (NZD) that one can buy for every European Euro (EUR).

Position

EUR – World’s second most traded currency

NZD - World’s eleventh most traded currency

Important factors

• Economic factors – With the Euro being used in a range of countries, and the New Zealand dollar also being used in The Cook Islands, Niue, Tokelau, and the Pitcairn Islands, the economic situation, including interest rates, employment numbers, trade balance, and more in all of these nations have an effect on this pairing.
• Business friendly – New Zealand was called the most business-friendly country in the world in 2005, which helped trade, and therefore the dollar.
• Tourism – New Zealand is a popular tourist destination, as are many of the countries in the Eurozone, so tourist numbers and interest can impact the pairing.
• Commodities – Agriculture is the biggest sector for export from New Zealand, so prices in this area can heavily affect the currency.