What Are New Zealand Dollar Futures?
New Zealand Dollar Futures (6N) are futures contracts based on the value of the New Zealand Dollar (NZD) relative to the U.S. Dollar (USD). These contracts are used by traders and investors to hedge or speculate on fluctuations in the value of the New Zealand Dollar against the U.S. Dollar. Factors that influence the New Zealand Dollar include global commodity prices (especially dairy, a key export), interest rate differentials, and economic data from New Zealand.
Contract Size
- Contract Size: 100,000 New Zealand Dollars.
Trading Hours
The New Zealand Dollar Futures contract trades nearly 24 hours a day, five days a week, providing consistent access to the global currency markets.
- Sunday to Friday: 5:00 PM to 4:00 PM CT (with a 1-hour daily trading halt from 4:00 PM to 5:00 PM CT).
- Time Zone: Central Time (CT).
Tick Value and Increment
- Tick Size: $0.0001 (1 tick = 1 basis point).
- Tick Value: $10.00 per tick.
- Minimum Price Fluctuation: $0.0001 per NZD/USD.
This makes New Zealand Dollar Futures an excellent choice for traders seeking liquidity, leverage, and exposure to the foreign exchange market.
Trading Symbol
- Platform Symbol: 6N
Margins
To trade New Zealand Dollar Futures, you’ll need to meet specific margin requirements. Check out Ironbeam’s Margins Page for the latest margin rates and details.
Why Trade New Zealand Dollar Futures?
- Liquidity: High liquidity ensures tight spreads and efficient execution.
- Hedging Opportunities: New Zealand Dollar Futures are used by businesses and investors to hedge against fluctuations in the exchange rate between the NZD and the U.S. Dollar.
- Global Influence: The New Zealand Dollar is influenced by factors such as commodity exports, economic performance, and interest rate policies.
- Diversification: Add exposure to the foreign exchange market to complement equity or commodity investments.
- Price Discovery: Futures markets provide an effective mechanism for determining the fair price of the New Zealand Dollar.
Start Trading 6N with Ironbeam
Ironbeam provides a robust trading platform and API to help you access New Zealand Dollar Futures with ease. Trade confidently with free real-time Level 2 market data and personal broker support.
DISCLAIMER: There is a substantial risk of loss in trading commodity futures and options products. Losses in excess of your initial investment may occur. Past performance is not necessarily indicative of future results. Please contact your account representative with concerns or questions.