NZDCAD Forecast and Live Chart

The New Zealand Dollar/Canadian Dollar currency pair (also referred to as NZDCAD and NZD/CAD) is a major currency pair. In this article, we will examine how NZDCAD is performing.

NZDCAD Key Stats

  • 2021 high: 0.9329
  • 2021 low: 0.8548
  • YTD high: 0.8808
  • YTD low: 0.7624
  • YTD % change: -3.13%

NZDCAD Forecast

The NZDCAD has declined for the majority of 2022 due to the Canadian economy benefitting from its energy exports. However, rate hikes and a robust economy have seen the pair turnaround in the last few months. Judging where the NZD/CAD may head from here is essentially a take on risk and oil prices. We expect a slight pullback in the near term, but in the longer term, we see the pair continuing to run higher as macroeconomic headwinds ease. This view, however, cannot be concrete and is subject to inflation data, interest rate hikes, and changes in geopolitical uncertainty.NZDCAD Chart

NZDCAD Fundamental Analysis

The global economic climate is changing daily, and fundamental analysis can be a crucial component of a trading strategy to help determine the direction in which a currency pair will trade. Many factors influence price, including GDP, inflation, monetary and fiscal policies, and more.

While interest rate differentials and the fact that the NZD is considered a carry-trade currency will play a part in its movement against other currencies, other factors to consider are tourism numbers and dairy prices. New Zealand is a significant exporter of whole milk powder, so if the price of milk increases, the economy will benefit, strengthening the NZD. In addition, tourism is also important to its economy. As the number of visitors increases, the New Zealand economy benefits, resulting in a strengthened NZD. However, New Zealand’s tourism took a heavy hit from the pandemic, falling well below its usual numbers. This impacted the currency. Although in 2022, tourists travelling to New Zealand has shown signs of increasing, it is still well below the levels seen before the pandemic. Even so, there are encouraging signs going forward as the travel industry continues its recovery. As for inflation, New Zealand has not been immune to the significant rise in prices. Therefore, the Reserve Bank of New Zealand has had to raise rates considerably, which has benefitted the currency.

Canada has one of the world’s largest economies. Its trading is primarily dominated by its oil and gas industry, with most of its earnings coming from the sale of crude oil. Therefore, the Canadian Dollar benefited substantially from the rise in oil prices this year, with it being one of the largest exporters of the commodity. However, the economy has still faced difficulty, with soaring inflation also weighing on the Canadian economy. As a result, the Bank of Canada has hiked interest rates. These hikes have managed to slow the inflation pace, with prices falling from highs earlier this year.


Related Articles


NZDCAD Technical Analysis

2021 marked the beginning of a sustained move lower in the NZDCAD as macroeconomic and geopolitical factors began to push the New Zealand dollar lower. However, that downtrend seems to have now ended, at least in the short term, with the pair now climbing — trading back around levels last seen in April this year.

The current bullish move has seen the pair cross above its 100 and 200 MA on the daily chart, and it has respected the current bullish trend line so far. For a near-term pullback, a level to look out for, for a near-term pullback, is 0.8245.

Trade NZDCAD with our top brokers

Broker Features Regulator Platforms Next Step
Number One Broker tickmill_logo-173 % of retail CFD accounts lose money Founded: 2014
73 % of retail ...
  • Ultra-fast execution from 0.1s
  • Low spreads from 0.0 pips
  • All trading strategies allowed
FSA SC MetaTrader 4, Web Trader
BlackBull Markets LogoYour capital is at risk Founded: 2014
  • Leverage Up To 500:1
  • $200 Min Deposit
  • 60+ Tradeable Instruments
FSPR MT4
Your capital is at risk Founded: 2006
Europe* CFDs ar...
  • 40% New Member Bonus
  • Regulatory licenses across 5 continents
  • 24/7 trading
ASIC, FSA, FSB, MiFID MetaTrader4, Sirix, AvaOptions, AvaTrader, Mirror Trader
Between 74-89% of CFD traders lose Founded: 2010
Between 74-89 % of retail investor accounts lose money when trading CFDs
  • Four user-friendly trading platforms
  • Consistently rater No1 for Trader Support
  • Set up by traders, for traders
ASIC, FCA MetaTrader 4, MetaTrader 5, cTrader
Your capital is at risk Founded: 2020
  • Impressive range of trading platforms
  • Tight spreads and low commissions
  • Excellent customer services
  • STP and ECN trade execution
- Pro Trader, MT4, MT5
vantage logoYour capital is at risk Founded: 2009
  • Leverage up to 500:1
  • $200 Min Deposit
  • Spreads from 0.0
CIMA MetaTrader 4, MetaTrader 5, WebTrader
LegacyFX LogoYour capital is at risk Founded: 2012
  • Meta Trader 5 Trading platform
  • Exclusive professional trading tools
  • Dedicated support staff during all trading hours
BaFin, CySEC, FCA, NBRB, VFSC MetaTrader 5
AdroFX LogoYour capital is at risk Founded:
  • Crypto deposits possible
  • Bonus offers
  • Leverage up to 1:500
  • MT4 and Allpips platforms
FSA, VFSC MetaTrader 4, Web Trader, Social Trading Allpips, Web Platform Allpips
Your capital is at risk Founded: 2000
  • Good range of assets, such as CFDs
  • Fully regulated brokerage
  • Multi-lingual reporting
DFSA, FCA, FINMA, MFSA, only EU traders), SFC FCA (Swissquote LTD MT4, MT5, AdvancedTrader
Trade360 LogoYour capital is at risk Founded: 2013
  • Over 200 Tradeable Accounts
  • $50 no deposit bonus
  • Trading Central Insight Portal
CySEC CrowdTrading
Oanda Logo77% of retail CFD accounts lose money Founded: 1996
  • No Minimum Deposit
  • Over 100 instruments
  • Web, desktop, mobile platform and MT4

ASIC, FCA, IIROC, MAS fxTrade, MT4
vt markets logoYour capital is at risk Founded: 2016
ASIC, CIMA MT4
Your capital is at risk Founded: 2015
  • $50 Min Deposit
  • Flexible Leverage
  • Low Min Order Values
FCA, SCB MT4
Your capital is at risk Founded: 1991
73.05% of investors lose money when trading CFDs with FXCM
  • Enhanced Execution and pricing.
  • Award-winning trading platform
  • Free Access to Exclusive Trading Tools
- FXCM Trading Station (Web, Desktop, Mobile), FXCM MetaTrader 4, NinjaTrader
city index new75% of clients lose money. Capital at risk. Founded: 1983
  • Exceptional customer service
  • Beginner-friendly
  • Free Webinars
ASIC, FCA, MAS Advantage Web, AT Pro, MT4, WebTrader
Exness LogoYour capital is at risk Founded: 2008
  • Instant automated withdrawals 24/7
  • Commission-free Standard accounts
  • Some of the lowest spreads on the markets and stable execution
  • Unlimited leverage
  • Free VPS Hosting
CySEC, FCA, FSA, FSCA MT4, MT5, WebTerminal
Your capital is at risk Founded: 2017
FSC XOH, MT5,
SquaredFinance LogoYour capital is at risk Founded: 2016
CySEC
fusion markets logoYour capital is at risk Founded: 2017

Lowest Commissions in Australia

$4.50 per lot RT

ASIC, VFSC MT4
Your capital is at risk Founded: 2012
Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose.
  • High leverage.
  • Variety of trading tools.
  • Multilingual support.
  • Excellent range of educational tools
  • Leverage up to 1:1000
  • Spreads from 0.3 Pips
  • Only a $10 minimum deposit
FSA, FSC MT4, MT5, WebTrader, Proprietary Mobile App