NZD
USD
What NZD/USD is
NZD/USD, written NZDUSD on trading platforms, is the price of the New Zealand dollar in US dollars. The New Zealand dollar is often called the "kiwi dollar" or simply the "kiwi".
- Base currency: NZD, the currency you buy or sell.
- Quote currency: USD, the currency the price is shown in.
If the quote rises, the New Zealand dollar has gained against the US dollar. If it falls, the US dollar has gained. When you buy NZDUSD, you buy NZD and sell USD at the same time. Selling does the opposite.
NZD/USD is a major pair because it includes the US dollar. To see how it compares with other pairs, read Majors, minors, exotics and Currency pairs.
Reading the quote, pips and pip value
A quote has two prices:
- Bid: the price at which you can sell.
- Ask: the price at which you can buy.
The gap between them is the spread, which is your cost of opening the trade.
A pip is the standard unit of price movement for the pair. On most platforms the price also shows an extra digit, called a fractional pip or point. To confirm how many digits your account shows, look at the symbol specification in MetaTrader.
USD is the quote currency, so the value of a pip for a given lot size is a fixed amount in US dollars. If your account is in another currency, such as PKR, that value is converted at the current rate and changes as the rate moves.
On a Standard Cent account, 1 cent lot = 1,000 USD = 0.01 standard lot, so the pip value per cent lot is much smaller than per standard lot.
To get the exact pip value for your lot size and account currency, use the calculator:
Fill in the empty fields to see the result.
What tends to move NZD/USD
NZD/USD reacts to news from both countries and to the general mood in global markets. For a structured approach to reading this news, see Fundamental analysis.
New Zealand dollar side
- RBNZ policy: decisions and statements from the Reserve Bank of New Zealand on the official cash rate, and its guidance on future rates.
- Dairy prices: dairy is a major New Zealand export. Results from global dairy auctions can affect demand for NZD.
- China demand: China is a key buyer of New Zealand goods. Chinese growth data and trade news often move the kiwi.
- Risk appetite: NZD is usually treated as a risk-sensitive currency. It tends to gain when investors buy riskier assets and weaken when they seek safety.
US dollar side
- Fed policy and the dot plot: the Federal Reserve sets US interest rates. The dot plot is a chart of Fed officials' rate projections. A shift in it can change expectations quickly.
- US jobs (NFP) and CPI: Non-Farm Payrolls measures US job creation. CPI measures inflation. Both feed into Fed expectations and often cause sharp moves.
- Treasury yields: higher US yields tend to support the US dollar against lower-yielding currencies.
- Global risk appetite: in periods of stress, the US dollar often attracts demand as a safe currency.
NZD/USD often moves in a similar direction to AUD/USD because the two economies have related drivers. See Pair correlations and AUD/USD.
For a calendar of these events, Exness offers an economic calendar on the website and in the Exness Trade app.
Liquidity by session and spread behaviour
- Asia-Pacific session: New Zealand and Australian markets open first in the trading week. Local data and RBNZ news come out at this time. Overall volume is lower than later sessions.
- London session: volume rises as European banks start trading.
- London–New York overlap: usually the most liquid period, and the time when most US data is released.
- Late New York and rollover: liquidity thins out. Spreads often widen around the daily rollover and at the weekly open.
Spreads are not fixed. They can widen sharply around RBNZ decisions, NFP, CPI and Fed announcements, and when markets are thin.
At Exness, higher margin requirements apply to orders opened from 15 minutes before to 90 seconds after high-impact news. During that period, leverage on forex is limited to 1:200 (0.5%).
Exness conditions for NZDUSD
These are taken from Exness account pages and Help Center articles as published when this page was prepared. Conditions change, so check the specification for NZDUSD in your platform and in the Personal Area before you trade.
| Account | Spread | Commission | Margin call / stop out |
|---|---|---|---|
| Standard Cent | From 0.3 pips | No commission | 60% / 0% |
| Standard | From 0.2 pips | No commission | 60% / 0% |
| Pro | From 0.1 pips | No commission | 30% / 0% |
| Raw Spread | From 0 pips | Up to 3.50 USD each side per lot | 30% / 0% |
| Zero | From 0 pips | From 0.05 USD each side per lot | 30% / 0% |
Other conditions:
- Lot size: minimum lot is 0.01 lot. Maximum lot is 200 lots (7:00–20:59 GMT+0), 60 lots (21:00–6:59 GMT+0).
- Leverage: forex majors are among the instruments eligible for unlimited leverage. This applies only on real accounts: equity below 5,000 USD and at least 10 closed orders totalling 5 lots or more across real accounts.
- Swap: clients registered from Pakistan are assigned swap-free status automatically. See Swap fees for how the status can change.
Contract size, digits and trading hours for NZDUSD are not covered here. Check them in the symbol specification in the platform.
Margin is the amount the broker sets aside from your funds to keep a position open. To see how much margin a position needs at a chosen leverage, use the calculator:
Fill in the empty fields to see the result.
Ready to try it on a real or demo account?
Partner link · trading carries a high risk of loss
Risk and the legal position in Pakistan
Leveraged forex and CFD trading can lose money fast, including the whole deposit. High leverage makes losses grow just as quickly as gains. Read Risk management before placing any order.
Note what Pakistani regulators have said:
- Per the SBP, remitting foreign exchange to overseas forex, margin or CFD platforms is not allowed through any payment channel (per the SBP, remitting foreign exchange to overseas forex/margin/CFD platforms is not allowed through any payment channel (FERA s.5(1))).
- Per the SECP, offshore platforms have no Pakistani licence or oversight and offer no legal protection or recourse.
Details are on Law and regulators.
Frequently asked questions
What does NZDUSD mean?
It is the price of the New Zealand dollar in US dollars. NZD is the base currency and USD is the quote currency.
Why is it called the kiwi dollar?
"Kiwi" is a common nickname for New Zealand and its currency. Traders use "kiwi" as shorthand for NZD.
Is the pip value fixed on NZD/USD?
Per lot, it is fixed in US dollars because USD is the quote currency. In a non-USD account, the value changes with the conversion rate. Use the pip calculator above.
What should an NZDUSD analysis look at?
Typical areas are RBNZ and Fed policy, dairy prices, Chinese data, US jobs and inflation, Treasury yields and overall risk sentiment. You can combine these with Technical analysis. This page gives no forecasts or trade ideas.
When are NZD/USD spreads usually tighter?
Usually during the most liquid hours, such as the London–New York overlap. Spreads tend to widen around major news, at rollover and when markets are thin.
Can I practise on NZDUSD first?
Yes. A demo account comes with 10,000 USD (virtual). Note that the Standard Cent account has demo not available. See Demo account.
