Resolved Question
What is the NZD correlated to?
if the aussie is tied to gold and the loonie is tied to oil, what about the kiwi? sheeps and hobbits? thx
over 2 years ago
Best Answer - Chosen by Asker
Haha. Good one Boripat. Like the Aussie, the Kiwi is also correlated to the price of gold. If you check the daily charts of the AUDUSD and NZDUSD you will notice that both currency pairs move in tandem up until the second week of November. Gold also made its run during this time. After that, the AUD continued to rise while the NZD got left behind. Remember that the RBA hiked its rate two times already while the NBNZ decided to leave theirs as is. This could be the reason why two appears to move apart as of late. In any case, the NZD remains to be correlated with gold, albeit at a lesser degree.
over 2 years ago
Answers (1)
The Kiwi is correlated to commodity prices in general and not just one specific commodity. In fact, the NZDUSD has a 63% correlation with the Commodity Research Bureau Index (CRB Index). Check out the link I posted below!
over 2 years ago
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