The Australian Dollar cross with the New Zealand Dollar (AUD/NZD) currency pair is often used when traders are looking to eliminate external fundamentals associated with both risk correlated currencies, so that they can isolate developments on the domestic fronts and progress within the respective economies.
Both the Australia and New Zealand economies are heavily reliant on exports. Australia is focused on shipping energy products and ferrous metals, while the New Zealand economy is driven off exports of wool, meat and dairy. So if you’re looking to eliminate risk associated with the broader global economy and just want to trade the two economies against one another, the AUDNZD cross rate is the way to go.
Recent AUD/NZD Forex News
Euro's Change of Plan
17 Feb 2017 00:08 GMT
Time Estimate: 5 minutes
Everything looked bearish earlier in the week, but the Euro is showing signs of wanting to base.
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The Other Side of Aussie
17 Feb 2017 00:05 GMT
Time Estimate: 2 minutes
I have been focusing more on the short side of the Australian Dollar this week and hope to be able to capitalize from it.