Forex Major
NZD/USD — New Zealand Dollar / US Dollar
0.6 – 2.0 pips · 45 – 85 pips
NZD/USD ("Kiwi") behaves like a higher-beta AUD/USD: thinner liquidity, similar drivers, larger relative swings around RBNZ decisions and dairy prices.
Risk first
Numbers below are typical ranges, not guarantees — spreads, swaps and volatility differ per broker and market regime. Size every position from your stop distance and account risk, never from a fixed lot habit.
Contract specifications
| Spec | Value |
|---|---|
| Contract size | 1.00 lot = 100,000 NZD |
| Pip / tick value | 0.0001 → ca. 10 USD / 1.00 lot |
| Typical spread | 0.6 – 2.0 pips |
| Typical daily range | 45 – 85 pips |
| Best trading hours | Asian session and London open |
What moves this market
- ▸RBNZ policy, which is often the most aggressive in the G10
- ▸Chinese demand and dairy auction prices
- ▸Global risk appetite
Correlations to watch
- ▸Very high positive correlation with AUD/USD
- ▸Positive to commodity and equity risk
How traders approach it
- ▸Trend continuation after RBNZ repricing
- ▸AUD/NZD spread thinking before taking a Kiwi trade
- ▸Session-range breakouts into London
Typical mistakes
- ▸Treating NZD liquidity like EUR liquidity
- ▸Overnight holding through thin Wellington hours
Related instruments
Analyse it in FX CURIO
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