NZDUSD is a trading asset where the NZ dollar is a base currency, and the US dollar is a quote currency. High liquidity makes this pair one of the majors. It's prevalent in Forex because of its huge earning potential.
The economies of New Zealand and the USA are stable and have some common features. The NZDUSD can be considered a "commodity" asset as agricultural exports — wool, leather, and full cream powder — prevail in the NZ GDP structure. The farm sector also plays a vital role in the US economy: the US exports cotton, pistachios, almonds, and wheat.
The NZDUSD's moves are subject to the volume of supplies to the trading partners — China, Australia, Canada, and Japan. Besides GDP, the central banks' rates, inflation, and employment levels, consider export data, too.
Let's take full cream powder, for example. Milk exports are so important that New Zealand has a separate milk exchange. The US market is large and also affects global milk trends. So, just monitoring milk exports can help one earn from the NZDUSD instrument. What's more, the NZDUSD also depends on the prices of oil, ferrous metals, non-ferrous metals, and other resources.
Risk warning: Trading in FX and CFDs entails high risk of losing capital.
