It is rather clear that in this pair, the USD is the major currency, while the NZD is not. The USD is always closely linked to various commodities though, so the pair does qualify as a commodity currency, even though it is not a major pair.
The New Zealand Dollar, also known as the Kiwi Dollar, has been around since 1967. In the beginning, it was pegged to the USD, and the link between the two currencies in this chart is quite obvious to this day. The NZD is indeed massively influenced by the USD and the state of the US economy, where a large part of New Zealand’s exports end up.
The other major trading partner of the country is Australia, so it’s safe to say the AUD influences the price evolution of the NZD too.
New Zealand’s economy is focused on agriculture, food production and services.
The world’s most-traded and most popular reserve currency, the USD is used to express the value of commodities such as oil and gold. It is also the benchmark against which the values of crypto-currencies are expressed lately.
An interesting bit of trivia about the USD is the fact that there is more of it held outside the US than within.
The US economy is of gargantuan size, covering everything from manufacturing and commodities to energy, banking and services.
The entity controlling the USD is the Fed. Control is exercised through the manipulation of the interest rates on the greenback.
One of the top trading partners of New Zealand, the US influences the NZD in a number of ways. The trading on the pair is very strong due to that fact, which means that trading opportunities on it mostly arise from the fluctuation of the NZD. Agricultural prices are therefore the factor that triggers most such opportunities.