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The Australian Dollar / New Zealand Dollar cross represents the two Australasian currencies, which often trade similarly against other currencies due to the similar geographical locations and high rollover rates. Therefore, the cross moves on the actual changes in the local economies, and is not heavily affected by risk-trends or global factors. Commodity exports represent a significant segment of both economies with Australia shipping energy products and ferrous metals; while New Zealand is more known for its export of wool, meat and milk.
71% of retail CFD accounts lose moneyTrading forex carries a high level of risk
RT @FxWestwater: Australian Dollar Forecast: $AUDNZD Tracks Higher as Economic Data Looms
Link: https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2021/05/02/Australian-Dollar-Forecast-AUDNZD-Tracks-Higher-as-Economic-Data-Looms.html?ref-author=Westwater https://t.co/wZHLT…
Leveraged trading in foreign currency or off-exchange products on margin carries significant risk and may not be suitable for all investors. We advise you to carefully consider whether trading is appropriate for you based on your personal circumstances. Forex trading involves risk. Losses can exceed deposits. We recommend that you seek independent advice and ensure you fully understand the risks involved before trading.
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