Nzd/usd analysis

The analysis of the NZD/USD pair is simply the study of the behavioral patterns of this pair via the periodic charts and forex market. The pair is known primarily as the kiwi and is among the most traded currency pair globally. Its analysis is produced though extensive research of the charts and Elliot waves of this market to know potential price movements that could occur in the future. The NZD as well known as the New Zealand Dollar whereas the USD is known as the U.S dollar are both internationally recognized as the official currency of each country. For the economy of New Zealand and the USD is the national currency for the United States. They are both controlled by the finance regulatory bodies of both states and their respective federal government.

THINGS TO KNOW ABOUT THE NZD/USD CURRENCY PAIR

The NZD/USD is not as popular as the EUR/USD, AUD/USD pair but there are basic things every trader needs to know about the currency that he/she is trading upon;

THE NEW ZEALAND DOLLAR;

  1. It's controlled by the reserve bank of Australia

  2. The new Zealand pound was surpassed by the Australian Dollar in 1967

  3. In the last two decades, New Zealand's economy has moved from agrarian economy to a global competitive economy

  4. New Zealand export wood, wool and its derivatives, fish and dairy products

  5. The New Zealand is among the most traded

ECONOMY;

  1. New Zealand operates a free market economy that is enormously dependent on international trade mainly with China, Japan, U.S, Australia and EU

  2. the commodity prices for exports have decreased  and New Zealand lost its unique trading position with the U.K in 1973

  3. New Zealand enjoys high standard of living due to its wool boom in 1951 and till date stick enjoys that  boom

  4. It possess limited manufacturing and technological advancements as it's primarily based on tourism and agricultural sectors

Symbols: $

Nicknames: kiwi

ISO 4271 code

Central bank: Reserve bank of Australia

Subunits: cents= 1/100 of a dollar

Denominations: $5, $10, $20, $50, $100

US DOLLAR (USD)

Central bank: The Federal Reserve or the fed. The USD is also known as the buck or green back and is the main trading currency of the US.

ECONOMY:

  1. Operates mixed capitalist economy driven by numerous natural elements, high technological advancements, and infrastructure

  2. The U.S economy's GDP though larger than many nations is 5% smaller than many European nation

  3. The IMF stipulates that the U.S  GDP of $15 trillion is made up of 23% of global GDP to exchange rates and makes a mass of the global GDP in PPP (purchasing power parity)

  4. The U.S economy is the ninth in the world nominal GDP / Capital and sixth in GDP for PPP

Symbols: $

Nicknames: buck, green back, Jefferson’s, Benjamins, Washingtons etc

ISO 4271 code

Denominations: $ 1, $2, $5, $10, $ 20, $50, $100

Coins: 1c, 10c, 25c, 50c

The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteForex. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.

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