Fx street nzd usd

This currency pair is also known as the "Loonie", a nickname derived from the picture of a loon, a distinctive bird which appears on one side of the Canada's gold-colored, one Dollar coin. These pairs are highly correlated to commodity especially oil fluctuations.

Money A2Z

Canada is commonly known as a resource based economy being a large producer and supplier of oil. The leading export market for Canada is by far the United States making its currency particularly sensitive to US consumption data and economical health. Here you have two nice correlations. Canada and Japan are at the extreme ends of production and consumption of oil.

While Canada benefits from higher oil prices, Japan's economy can suffer because it imports nearly all of the oil it consumes. This is another interesting correlation to follow. In terms of political events that can affect the pair this year, we have of course the Trump Presidency: In Canada, we can highlight the New Democratic Party leadership election in October and the Conservative Party of Canada leadership election in May Its president is Stephen Poloz.

Canadian Government headed by Justin Trudeau and its Department of Finance whose minister is Bill Morneau that implement policies that affect the economy of the country. CAPP Canadian Association of Petroleum Producers: Canada being a prominent oil and natural gas producer, the trade organization of that industry is very important.

In the USA, we have: The US Government and its President Donald Trump: Fed , the Federal Reserve of the United States whose president is Janet Yellen.

Dollar Index Spot Index

The Fed controls the monetary policy, through active duties such as managing interest rates, setting the reserve requirement, and acting as a lender of last resort to the banking sector during times of bank insolvency or financial crisis.

In terms of economic data, we should highlight the Trade Account Balance , a balance between exports and imports of total goods and services.

A positive value shows trade surplus, while a negative value shows trade deficit. If a steady demand in exchange for CAD exports is seen, that would turn into a positive growth in the trade balance, and that should be positive for the CAD. It is measured among others by the CPI Core Price Index and the PPI Production Price Index.

They are key indicators to measure inflation and changes in purchasing trends. This group also includes the following currency pairs: CSB Canada Savings Bonds , CPB Canada Premium Bond. All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer.

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NZD/USD Forecast

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