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NEW ZEALAND DOLLAR / SINGAPORE DOLLAR Trading
The New Zealand Dollar (NZD) and Singapore Dollar (ZGD) is known as a cross pair. These kinds of pairs often move differently to majors but are still in line with other currencies. For instance, the SGD is influenced by the USD, while the movement of New Zealand’s neighbouring currency, the Australian dollar, is often positively correlated to NZD.
History of NZD SGD Trading
New Zealand currency has a long history of over 160 years. During the 1800s, New Zealand used its coins and banknotes before British currency was even legal currency. The New Zealand dollar is the official currency of New Zealand and is represented by the symbol $ or NZ$ to set it apart from other currencies based on dollars.
The Singapore dollar (SGD) was first issued in 1965 after the breakdown of the monetary union between Malaysia and Brunei. Since the financial crisis in 2007, the SGD became one of the best-performing currencies. The Singapore dollar became a popular destination for offshore investors and is the 12th most traded currency worldwide, and the 3rd most in Asia.
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NZD/SGD Trading FAQs
When Is the Best Time to Trade NZD/SGD?
When Is the Best Time to Trade NZD/SGD?
While forex pairs can theoretically be traded 24 hours a day, there are optimum times to trade the NZD/SGD whenever the currency pair is more volatile. From 23:00 GMT to 08:00 GMT., the NZD/SGD is usually busy (GMT).
What affects NZD/SGD investing?
What affects NZD/SGD investing?
Many factors can affect the NZD/SGD market sentiment and spot rates, such as central banks policies, the price of commodities in each country, exports of both countries, economic growth, and political stability.
Why Is the NZD/SGD Currency Pair
Significant to Traders?
Why Is the NZD/SGD Currency Pair
Significant to Traders?
Traders encounter many advantages when choosing NZD/SGD pair. These benefits include accessibility, high-interest rates, volatility and resources. The SGD is one of the most accessible Asian currencies on the forex market. Trading NZD/SGD can provide interesting investment opportunities, and investors can have access to a range of tools and its interest rate differentials after the financial crisis in 2008 offer good profit potential.
Where Can I Find a Trusted Forex Broker to Trade NZD/SGD?
Where Can I Find a Trusted
Forex Broker to Trade NZD/SGD?
As you may already know, trading via CFDs (contracts for difference) is one of the most popular approaches when dealing with currencies such as NZD and SGD. While there are numerous Forex brokers out there. Try to find one that suits your needs. Such as FP Markets, a fully regulated broker that offers all types of platforms and accounts, to suit every need.