EUR/NZD

The EUR/NZD spot figure concerns the trading relationship between the euro and the New Zealand dollar.

Economic data is the chief factor affecting the euro exchange rate, with information on gross domestic product (GDP), consumer price index and trade balance across the eurozone all having a significant impact.

Other crucial factors include the budget deficits of the 17 eurozone countries, which must remain under three per cent of GDP.

As the largest economy to use the single currency, Germany is the nation whose economic data has the largest impact on the euro exchange rate.

Known informally as the "Kiwi", as the flightless bird is a national symbol of New Zealand, the NZ dollar sits alongside the euro as one of the ten most traded currencies in the world.

As well as being used in New Zealand, it circulates in four other territories - the Cook Islands, Niue, Tokelau and the Pitcairn Islands.

Key factors influencing the value of the money include interest rates, trade balance, unemployment data, price inflation and GDP.

In addition, the NZ dollar can be moved by fluctuations in the ANZ Commodity Price Index and the Reserve Bank of New Zealand's interest rate decisions.

New Zealand is a net food exporter and its economy is strongly focused on tourism and agriculture, so major swings in these areas can also affect the currency's value.