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When converting New Zealand dollars (NZD) to Canadian dollars (CAD) or CAD to NZD, by exchanging via Direct FX, you will save a significant amount of money. Our wholesale currency exchange rates for money transfers are significantly more competitive than bank foreign exchange rates. Being Australasian based, we specialise in knowing what drives NZD and CAD currency conversion rates.
NZD to CAD Overview:Both the New Zealand and Canadian dollars are regarded are commodity currencies. NZD CAD is a relatively stable currency pair. The CAD fortunes are more closely aligned with those of the US and the NZD fortunes more aligned with those of Australia and Asian emerging markets. A break down in correlation can happen in periods of dislocated global growth.
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Historical Ranges: |
1 year |
5 years |
10 years |
|
NZD/CAD |
.7062 - .8421 |
.6154 - .8480 |
.6154 - .9383 |
Current Official Cash Rates:
Reserve Bank of New Zealand (RBNZ): 2.5% Bank of Canada (BoC): 1.0%
NZD CAD Weekly Updates: Back to FX Updates
Monday 14th May 2012 4:42 PM (NZT)
The NZ dollar saw further grinding pressure from the Canadian dollar throughout the course of the last week. The .7900 and .7850 levels provided support levels, but could not tame the CAD in the wake of the stellar employment report on Friday. Today’s disappointing NZ retail sales data was of limited impact and now the primary focus becomes the Canadian inflation numbers on Friday. The .7800 level now provides the next support level, albeit very close to current levels. Consolidation through this level opens up the way for another investigation lower for this pair.
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|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/CAD |
.7818 |
.7800 |
.8000 |
.7797 - .7937 |
Monday 7th May 2012 :42 PM (NZT)
The NZ dollar saw renewed pressure from the Canadian dollar throughout the course of last week. The pairing has seen the downward momentum ease for the time being at .7900. The lack of ability to consolidate through the .7900 level thus far, has saved the NZ dollar from further downward pressure. The easing global oil price potentially may take some sting out of the CAD pressure to move the NZD lower also. Canadian employment numbers on Friday will be the economic data focus for the week. Being right on this pivotal level will keep the interest high in the pair this week.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/CAD |
.7905 |
.7900 |
.8100 |
.7882 - .8098 |
Monday 30th April 2012 4:42 PM (NZT)
The CAD strength continued last week and the pair broke the support at .8050 and spent most of the week below that level. The USD weakness that pressured the market late Friday gave the NZD some respite and the NZD managed to claw back some of its lost ground. Expect this week’s range to offer similar levels, assuming we do not see further US dollar weakness for no apparent reason. Canadian GDP numbers late Monday provide the initial focus, ahead of the NZ employment numbers on Thursday.
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|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/CAD |
.8062 |
.7950 |
.8150 |
.7981 - .8131 |
Monday 23rd April 2012 4:06 PM (NZT)
The CAD outperformed the NZD dollar throughout the course of last week. A decrease in Fonterra monthly auction prices and benign NZ inflation numbers eased the way for NZD underperformance. This coupled with an upbeat economic assessment from the BOC and the pressure was all one way for the pair. Gains from current levels may prove to be harder fought for the CAD as the pair is close to some substantial support levels. Canadian retail sales numbers on Tuesday, and BOC head Carney speech on Tuesday night are the focus in Canada. Whilst the local focus in New Zealand come from the RBNZ monetary policy decision on Thursday, although the unchanged decision should not garner too much reaction.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/CAD |
.8118 |
.8050 |
.8250 |
.8061 - .8242 |
Monday 16th April 2012 4:01 PM (NZT)
The NZD saw grinding appreciation against the CAD throughout most of last week. Friday saw the European debt concerns increase and stock markets move lower, and this ended the NZD rise. This week has again started with further risk aversion and the NZD demand has tapered off accordingly. Although the BOC are expected to leave monetary policy unchanged on Tuesday, their rhetoric will be closely followed. New Zealand inflation number on Thursday are flowed by the Canadian inflation numbers on Friday. The now familiar .8050 - .8250 range should hold the price actions for the most part again this week.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/CAD |
.8199 |
.8050 |
.8250 |
.8142 - .8276 |
Tuesday 10th April 2012 5:55 PM (NZT)
The NZD dollar saw some periods of pressure from the CAD last week. The largest drop came on the back of the positive Canadian data early Friday. Unfortunately the pressure was not to last as the weaker than expected US employment data saw the NZD outperform as the chances of near term QE initiatives in the US increased. The pair remains in its wider .8050/.8250 range and this should contain the price action for the remainder of the week. The NZIER business sentiment survey in NZ on Wednesday will be closely watched, as will the Canadian trade balance on Thursday.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/CAD |
.8173 |
.8050 |
.8250 |
.8065 - .8216 |
Monday 2nd April 2012 5:11 PM (NZT)
The NZD outperformed the Canadian dollar by a slim margin last week. The lower oil pricing was mostly the contributing factor in a week of limited economic data supply in either economy. The as expected Canadian GDP number on Friday was of limited impact, but the better than expected Chinese manufacturing number did aid the NZD to highs at the weeks open. This week again sees limited economic data due for release in NZ. The Canadian influence comes on Thursday, with the release of building, manufacturing and employment numbers.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/CAD |
.8170 |
.8050 |
.8250 |
.8116 - .8209 |
Monday 26th March 2012 4:50 PM (NZT)
This pair remains in its recent range. The Canadian dollar put reasonable pressure on the NZD for much of last week, but again support at .8000 proved too strong. Stablisation of stock markets in the latter part of the week supported the resurgence of the NZ dollar, as the CAD suffered along with the US dollar, which was also giving up ground. This week should see a further contained range ahead of the Canadian GDP number of Friday, in the absence of any top tier economic data in New Zealand.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/CAD |
.8145 |
.8000 |
.8200 |
.8007 - .8202 |
Monday 19th March 2012 4:10 PM (NZT)
The NZ dollar saw some intense pressure from the CAD in the middle of last week, but has since recovered strongly. From current levels further moves high should be far harder fought. Further range trading seems likely until the CAD can again apply pressure but consolidate its gains through .8050 support. NZ current account and GDP data on Wednesday and Thursday will be closely watched. In Canada the retail sales and inflation numbers on Thursday and Friday will be the focus.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/CAD |
.8185 |
.8050 |
.8250 |
.7998 - .8202 |
Monday 12th March 2012 4:05 PM (NZT)
The Canadian dollar managed to maintain its recent pressure on the NZD for much of last week. There was a fight back from the NZD as stock markets rallied midweek, but the risk appetite was short lived. There is little in the way of economic data for either economy this week, so expect the lead to again come from the wider market appetite for risk. A break of the .8050 support level would open the way for investigations lower for this pair, to more historically average levels.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/CAD |
.8121 |
.8050 |
.8250 |
.8094 - .8237 |
Monday 5th March 2012 3:35 PM (NZT)
The Canadian dollar finally saw a resurgence in demand last week. The continued elevation of the oil price helped CAD demand. The poor performance of the EURO also dragged the NZD lower. Expect no change from either central bank at their monetary policy meetings on Thursday. Canadian employment numbers on Friday will also provide a focus. Current levels still represent good value buying of CAD with NZD. Those looking to transfer money from CAD to NZD, should benefit from patience.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/CAD |
.8200 |
.8050 |
.8250 |
.8186 - .8403 |
Monday 27th February 2012 4:15 PM (NZT)
This pair remains in the tight range it has seen for the last month or so. The NZD remains poised to test higher levels against the CAD, but the inability to push higher in earlier attempts, makes the move all the more difficult. The current high oil price should provide some support for the CAD, and in the absence of top tier economic data, a push higher from the NZD would have to come via renewed global risk appetite. NBNZ business confidence numbers on Wednesday in New Zealand will be watched. In Canada the month GDP numbers on Friday will provide the focus.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/CAD |
..8354 |
.8170 |
.8370 |
.8262 - .8371 |
Monday 20th February 2012 5:15 PM (NZT)
This pairing remains in recently familiar territory. Further appreciation from the NZ dollar from the lofty current levels, looks like being hard work for the NZD in the short term. Canadian retail sales data on Tuesday is the focus for the pair for the week, although it is unlikely it will have a major bearing on the overall price action. Global risk appetite will provide the bulk of the lead, and will no doubt be driven by the progress of potential Greek debt swap as the week unfolds.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/CAD |
.8350 |
.8150 |
.8350 |
.82563 - .8362 |
Monday 13th February 2012 5:15 PM (NZT)
The NZ dollar remains at elevated levels against the CAD, albeit currently back from the highs. The resistance at .8350 held last week as positive Canadian data outweighed the mixed NZ labour market numbers. The stablisation of the US dollar has also helped the cause of the Canadian dollar. This week sees just retail sales numbers in NZ on Wednesday, and Canadian inflation numbers on Friday. Any further upside efforts from the NZ dollar will be hard fought from the current levels, with the wider market risk appetite most likely assisting any appreciation.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/CAD |
.8325 |
.8150 |
.8350 |
.8256 - .8356 |
Monday 6th February 2012 5:15 PM (NZT)
The NZ dollars appreciation over the CAD continued last week. Progress did however become more labored, and this in the company of weaker than expected Canadian growth and employment data. The final turning came late Friday with the better than expected US employment numbers dragging the CAD higher with it. Current levels offer great value buying of CAD with NZD. The direction this week will come mostly from NZ. Labour cost numbers on Tuesday are followed by the quarterly employment numbers on Thursday. In Canada, Tuesday’s manufacturing numbers will be followed.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/CAD |
.8273 |
.8150 |
.8350 |
.8188 - .8349 |
Tuesday 31st January 2012 5:15 PM (NZT)
The NZ dollar has outperformed the CAD to start the year. Unsurprisingly the primary driver has been the re-emergence of US dollar weakness that has followed through to drag the CAD lower. This week sees a Canadian focus for the pairing, with GDP on Wednesday and employment numbers on Friday. Progress from current levels should prove harder fought for the NZ dollar.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/CAD |
.8235 |
.8080 |
.8280 |
.8138 - .8276 |
Monday 19th December 2011 5:40 PM (NZT)
The NZD was under pressure from the CAD for the first half of last week. Since then the recovery from the NZD has been impressive, although the NZD has opened softer this week. The NZ focus for the week will be the GDP numbers on Thursday. It is a busy week in Canada to keep the interest up. Inflation numbers come on Tuesday, retail sales on Thursday and 3rd quarter GDP numbers on Friday. Expect the pair to remain in the recently familiar .7750 - .7950 range.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/CAD |
.7892 |
.7750 |
.7950 |
.7752 - .7931 |
Monday 12th December 2011 5:40 PM (NZT)
This pair traded a somewhat muted range last week. The NZD gave up the bulk of its ground following the lower than expected Chinese inflation number, before recovering in the wake of the partial result at the EU summit. In the absence of local NZ economic data this week, expect the lead to come from Canada and the wider market sentiment driven by Europe. Topside resistance at .7950 remains the key to pushing the NZD lower, back towards more historically average levels.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/CAD |
.7883 |
.7750 |
.7950 |
.7830 - .7948 |
Monday 5th December 2011 5:25 PM (NZT)
The NZD saw continued appreciation against the CAD last week as the risk appetite increased. The coordinated central bank action on the USD funding helped push the NZD to its highs before it settled down. Both central banks make their monetary policy announcements this week. Expect both to be unchanged, but closely watched. Tuesday sees the Bank of Canada start things off, ahead of the RBNZ on Thursday. If the wider market risk appetite tapers off, the NZD will give up ground against the CAD.
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|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/CAD |
.7920 |
.7700 |
.7900 |
.7777 - .7973 |
Monday 28th November 2011 5:25 PM (NZT)
This pairing was relatively stable throughout the course of last week. The positive start to the week has seen the NZD open higher against the CAD, driven by wider market risk appetite following the rumours of the IMF funding package for Italy. Expect the wider market sentiment to provide the lead ahead of the Canadian GDP and employment numbers on Wednesday and Friday respectively.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/CAD |
.7818 |
.7700 |
.7900 |
.7713 - .7835 |
Monday 21st November 2011 6:15 PM (NZT)
This pairing was another to see the NZ dollar suffering. This was a result of the dual forces of lower global risk aversion, and the supply of NZD following the maturity of the November 2011 NZ government bond. The break down through the .7900 level heralds a return to more historically average levels for this pairing. This week sees the focus come on Tuesday when the RBNZ inflation expectations survey results are follow by the monthly retail sales figures in Canada. If the tensions in the middle East/North Africa region keep the oil price elevated, expect the CAD to maintain its pressure this week.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/CAD |
.7787 |
.7700 |
.7900 |
.7749 - .7996 |
Monday 14th November 2011 5:15 PM (NZT)
The CAD put constant pressure on the NZD through the course of the last week. Steady CAD appreciation was seen as the oil price increased, underpinned demand for CAD. Obviously not helping the appetite for NZD was the increase in the wider market risk aversion, as concerns about the funding issues in Italy hit their peak. The NZD opened up strong this week, after the leadership change in Italy and this morning’s positive NZ retail sales numbers were announced. Consolidation down through support at .7900 is needed, before this pair will be able to move back lower towards more historical averages.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/CAD |
.7987 |
.7900 |
.8100 |
.7883 - .8093 |
Monday 7th November 2011 5:15 PM (NZT)
This pair remains in the broader .7900 - .8200 range that has been in place for the last two months or so. Risk aversion saw the CAD with the upper hand for the first half of last week, before the NZD recovered. There is no top tier economic data due for release in either economy this week, so expect the broader range to continue and the lead to come from the wider market appetite for risk. The market risk appetite will be most likely driven by developments in Europe. With Greece starting to look organized enough to be given their bailout aid, expect the focus to narrow on Italy, as their debt and political leaders come under increasing pressure.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/CAD |
.8095 |
.7950 |
.8150 |
.7951 - .8169 |
Monday 31st October 2011 4.50 PM (NZT)
This pair had a fairly volatile last week as there was domestic news in both economies influencing the price action, along with the wider markets appetite for risk. In Canada this week sees Canadian GDP numbers released late Monday ahead of the employment numbers on Friday. In New Zealand we have the labour cost index on Tuesday, ahead of the employment numbers on Thursday. The wider .7900 - .8200 rage remains in place for this pair, any movement back towards the highs at .8200 represents good value buying of CAD with NZD.
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|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/CAD |
.8090 |
. 8000 |
.8200 |
.7955 - .8184 |
Monday 17th October 2011 4.50 PM (NZT)
The NZ dollar outperformed the Canadian dollar throughout the course of last week. The improved sentiment towards risk assets has driven the NZD appreciation. Progress from current levels should prove to be harder to make for the NZ dollar. In the absence of NZ economic data this week, the focus will come from Canada. A business outlook survey on Tuesday and inflation numbers Friday will be closely watched. Initial support comes in at .8050 and then .7950 below that.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/CAD |
.8100 |
. 8050 |
.8250 |
.7950 - .8151 |
Monday 10th October 2011 5.00 PM (NZT)
This pair was relatively stable throughout the course of last week. Fridays stronger than expected Canadian employment numbers gave the NZD a push lower from the highs. The pair looks comfortable in its .7850 - .8050 range. This week the relative stability should continue, in the absence of any top tier economic data in either economy. Current levels represent relatively good value buying of NZD with CAD.
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|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/CAD |
.7991 |
. 7875 |
.8075 |
.7900 - .8050 |
Monday 3rd October 2011 5.10 PM (NZT)
The NZ dollar continues to see pressure from the Canadian dollar as this pair retreats from levels above .8350 just one month ago. The significant support level at .7875 remains in place for the time being, a consolidated break down through this level would enable another leg lower from the NZD. This week sees just the NZIER quarterly survey of business opinion due for release on Tuesday in New Zealand. In Canada the calendar is light ahead of Friday when building, manufacturing and employment numbers are due for release.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/CAD |
.7975 |
. 7875 |
.8075 |
.7917 - .8103 |
Monday 26th September 2011 6.42 PM (NZT)
The New Zealand dollar saw pressure from the Canadian dollar last week following the 2
nd quarter NZ GDP number. As the global risk aversion accelerated the NZD saw further downward pressure and the CAD easily pushed it down through the .8050 support level. The prospect of widening interest rate differentials before the end of 2011 is all but ended, and this has eased the way back towards more historically average levels for this pair. The NZD focus for the week will be on the building and consumer sentiment numbers on Thursday. In Canada the GDP number on Friday will be closely watched.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/CAD |
.7960 |
. 7875 |
.8075 |
.7933 - .8197 |
Monday 19th September 2011 5.15 PM (NZT)
This pair remained within its expected range last week. In the absence of Canadian economic, data the downbeat global economic assessment from the RBNZ gave the market reason to cap any NZD gains. Canadian inflation numbers on Wednesday will be closely watched ahead of NZ 2
nd quarter GDP on Thursday. Canadian retail sales late Thursday will offer further insight to the state of the Canadian consumer. In the absence of another market move towards risk aversion, expect this pair to remain in its broader .8050 - .8250 range.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/CAD |
.8100 |
. 8050 |
.8250 |
.8063 - .8214 |
Monday 12th September 2011 4:55 PM (NZT)
This pair had a relatively volatile last week, as the general risk aversion saw the NZD under initial pressure, before the Bank of Canada monetary policy announcement caused the CAD to come under some pressure. The Bank of Canada are now likely to hold their cash rate at 1%, as they described the downside risks to the global economy as having materialized. This week it is the turn of the RBNZ on Thursday and this will be the primary focus for this pair. Should the European debt issues continue to inspire risk aversion, the NZD will continue to remain under pressure.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/CAD |
.8158 |
. 8050 |
.8250 |
.8121 - .8357 |
Monday 5th September 2011 6:05 PM (NZT)
The NZD again saw a week of appreciation against the Canadian dollar. With a lower growth profile for Canada’s major trading partner the US, expectations for the near term removal of the emergency stimulus from the Bank of Canada (BOC) have been pared back. With an absence of domestic economic data in NZ this week, the bulk of the focus will be on Canada. Thursday starts the week off with the BOC cash rate decision and statement. Whilst no change is expected, the statement will be closely followed for future direction. Friday sees the monthly employment numbers and these to could provide some movement. Obviously the current levels are reasonably high from a historical perspective, so expect gains to be harder to make for the NZD from here.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/CAD |
.8320 |
. 8180 |
.8380 |
.8230 - .8384 |
Monday 29th August 2011 6:35 PM (NZT)
This pair saw further volatility last week with sharp intra-day moves within the range. The NZD outperformed on the balance and took back ground given up the previous week. The stronger than expected HSBC Chinese PMI numbers gave the NZD the initial upper hand. Apart from NZ building and business confidence numbers on Tuesday and Wednesday in New Zealand, the focus will be the Canadian GDP numbers late Wednesday. Expect progress from current levels to be harder fought for the NZD, as we get closer the recent highs. If current volatility remains in place, the benefits of placing orders at targeted levels will be of value.
|
|
Current level |
Support |
Resistance |
Last week’s range |
|
NZD/CAD |
.8270 |
. 8140 |
.8340 |
.8064 - .8283 |
