Dairy
Milk powder and the kiwi
Dairy is New Zealand's largest goods export, so the Global Dairy Trade auctions, held twice a month, are closely watched by NZD traders. Firmer prices tend to support the kiwi.
NZDUSD · Major forex pair
Trade NZD/USD
Trade NZD/USD (NZDUSD) on Mega1 or MetaTrader 5 with Pro raw pricing or Standard all-in spreads.
- Maximum leverage
- Up to 1000:1*
- Minimum trade
- 0.01 lot
- Contract size
- 100,000 NZD
*Exposure-based margin bands apply incrementally per symbol. Availability depends on account, platform and jurisdiction.
NZD/USD
Indicative NZDUSD prices · New Zealand Dollar / US Dollar
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NZD/USD daily indicative candlestick chart is loading.
NZD/USD overview
What is NZDUSD? New Zealand Dollar against US Dollar.
NZD/USD shows how many units of USD are needed to buy one unit of NZD. A rising price means NZD is strengthening against USD; a falling price means the reverse. NZDUSD is influenced by Reserve Bank of New Zealand policy, domestic inflation, dairy and Asian demand, alongside US rates and shifts in global risk sentiment.
- Symbol
- NZDUSD
- Pip size
- 0.0001
- Price precision
- 5 digits
- Profit currency
- USD
- Minimum volume
- 0.01 lot
- Volume step
- 0.01 lot
RBNZ policy
The RBNZ's published rate track
The gap between the Reserve Bank of New Zealand's official cash rate and US rates is a key driver of NZD/USD. The RBNZ also publishes a projected path for its rate, so a change in that track can move the kiwi even when the rate stays put.
China
Demand from China
China is a major buyer of New Zealand's dairy, meat and timber. Signs of stronger or weaker Chinese demand often move the kiwi.
Risk appetite
Sensitive to the global mood
Like the Australian dollar, the kiwi tends to rise when markets are confident and fall when investors rush to the US dollar. As one of the smaller majors, it can move further when liquidity is thin.
When NZD/USD is most active
NZD/USD trades around the clock from Monday to Friday. New Zealand data and RBNZ decisions arrive during the Wellington day, followed by Australian and Chinese news in the Asian session. The busiest stretch is the London and New York overlap, from about 8:00 to 12:00 New York time; the late New York afternoon, around the 17:00 rollover, is usually the quietest.
NZD/USD at a glance
- NZD/USD shows how many US dollars one New Zealand dollar buys; the currency is nicknamed the kiwi, after the bird on its one-dollar coin.
- At XBTFX one lot is 100,000 New Zealand dollars, and the minimum trade is 0.01 lots.
- It often moves with AUD/USD, and the gap between the two shows in AUD/NZD, which XBTFX also lists.
Price history
NZD/USD key statistics
From daily mid-price candles, updated November 10, 2026.
Past performance is not a reliable indicator of future results.
Performance
- 1 day
- -0.56%
- 1 week
- +0.19%
- 1 month
- -0.21%
- 3 months
- -4.84%
- 52-week high
- 52-week low
- Average daily rangeLast 20 trading days
- 41.1 pips
Why XBTFX
Why trade NZD/USD with XBTFX
Leverage that fits the trade
Up to 1000:1 on NZD/USD, stepping down in published bands as your position grows.
Two account types
Pro and Standard accounts, with every cost for NZD/USD shown on this page before you trade.
Mega1 and MetaTrader 5
Trade in the browser, on desktop or on your phone with Mega1, or use MetaTrader 5.
Crypto or fiat funding
Fund in crypto or fiat, and run your account in US dollars or a crypto base currency such as BTC or USDT.
Two pricing choices
Compare NZDUSD spreads and trading costs.
Raw pricing
Pro
Variable spreads from 0.0 pips
- FX commission
- $2.75 per $100k traded
- Platforms
- Mega1 & MetaTrader 5
All-in spread
Standard
Spreads from 1 pip
- FX commission
- No separate commission
- Platforms
- Mega1 & MetaTrader 5
Spreads are variable and can widen. The stated minimum is not a universal or guaranteed spread. Swaps may apply to positions held across rollover. Account and platform availability varies.
Exposure-based margin
How NZDUSD leverage and margin bands work.
NZD/USD margin is applied incrementally by the total notional exposure in NZDUSD. Crossing a threshold does not reprice the margin already assigned to lower bands; only the additional exposure uses the next rate.
How exposure-based margin worksNZDUSD margin schedulePublished schedule
| Additional notional | Leverage | Margin |
|---|---|---|
| $0–$500K | 1000:1 | 0.10% |
| $500K–$2M | 500:1 | 0.20% |
| $2M–$5M | 200:1 | 0.50% |
| $5M–$15M | 100:1 | 1.00% |
| $15M–$50M | 50:1 | 2.00% |
| $50M–∞ | 20:1 | 5.00% |
USD notional bands. The live platform specification remains authoritative.
Contract details
NZDUSD contract specifications.
Review volume, carrying-cost and session information before placing a trade. Values below are refreshed from the published XBTFX specification service.
- Contract size
- 100,000 NZD
- Minimum / maximum volume
- 0.01 lot / 100 lots
- Volume step
- 0.01 lot
- Quote / profit currency
- USD
- Swap long
- −6.18 points
- Swap short
- 0.32 points
- Three-day swap
- Friday
- Published session
- 00:00–24:00 platform time
Open full NZDUSD specifications
Sessions and swap values may change for holidays, liquidity conditions and scheduled maintenance.
Plan a scenario
Calculate NZDUSD profit and pip value before you trade.
For one standard lot of NZD/USD, one pip is 0.0001 and represents 10 USD in the quote currency. The account-currency result can change with conversion, direction, spread, commission and swaps.
Example pip value 1 lot × 1 pip = 10 USD Before trading costs Open NZD/USD calculator
Where to trade
Trade NZDUSD your way.
Use Mega1 in the browser, on desktop or mobile, or trade through MetaTrader 5.
Start trading
Understand the pair before opening a position.
Why does NZD/USD react to dairy prices?
Milk powder, butter and cheese make dairy New Zealand's largest goods export, so their prices feed straight into the country's income. Strong dairy auction results tend to support the kiwi; weak ones tend to weigh on it.
How much do I need to trade NZD/USD?
The minimum trade is 0.01 lots, or 1,000 New Zealand dollars. At the first-tier leverage of 1000:1, the margin for it is 1 New Zealand dollar: for example, about $0.57 at a price of about 0.57. Leverage steps down as your exposure grows, and you need more than the margin in your account to absorb moves against you.
Can I go short on the kiwi?
Yes. Selling NZD/USD is a position on the kiwi weakening against the US dollar, whether you expect a softer RBNZ, weaker dairy prices or a stronger dollar. A short loses money if the pair rises, and leverage magnifies that loss.
Why can NZD/USD jump at the start of the week?
New Zealand is the first major market to open after the weekend, so NZD/USD is often among the first pairs to react to weekend news. Liquidity is thin at that hour, and the opening price can gap away from Friday's close.
What is NZDUSD (NZD/USD)?
NZD/USD is the exchange rate between New Zealand Dollar and US Dollar. It shows how many units of USD are required to buy one unit of NZD. A rising price indicates NZD strength relative to USD; a falling price indicates the reverse.
What is one pip in NZD/USD?
For NZD/USD, one pip is normally 0.0001. A one-pip move on one standard 100,000-unit lot represents 10 USD in USD, before spreads, commission, swaps and any account-currency conversion.
How is NZD/USD leverage applied at XBTFX?
NZD/USD uses published exposure-based margin bands. The schedule is tied to total notional exposure in NZDUSD, not the account balance. When exposure crosses a threshold, only the additional portion uses the next margin rate; lower-band exposure keeps its original rate.
Can I trade NZD/USD with Pro or Standard pricing?
Yes. Pro uses raw variable spreads with a separate commission of $2.75 per $100,000 traded on FX. Standard has no separate FX commission and includes the pricing cost in a wider spread. Availability can vary by platform, account and jurisdiction.
Where can I trade NZD/USD with XBTFX?
NZD/USD is available on supported Mega1 and MetaTrader 5 accounts. Check the instrument specification inside the selected platform before trading because sessions, margin and other conditions can change.
Risk warning
CFDs are complex instruments and involve a significant risk of loss due to leverage. Prices are indicative and may differ from executable account prices. Consider whether you understand how CFDs work and whether you can afford the risk. Risk Disclosure Notice
Ready to trade NZD/USD?
Open an XBTFX account, choose Pro or Standard pricing, and access NZD/USD on a supported platform.
