NZD/CAD: shows the relation of the New Zealand dollar to the Canadian dollar. It’s traded most actively on Wednesdays and Thursdays. The pair is moderately volatile, 85–120 pips a day.
NZD/CAD is dependent on the following factors:
—the state of the economies of Canada and New Zealand;
—balances of trade;
—prices of exported goods (Canada exports oil and timber while New Zealand is a major supplier of agricultural goods);
—interest rates bet by the central banks of New Zealand and Canada;
—business activity index.
There’s a correlation of this pair with NZD/USD.