The New Zealand Dollar Currency Index (ZXY) is one of the indices significant for understanding the real strength of the currency. ZXY shows a relation between the NZD and other major currencies. The New Zealand dollar is a commodity currency along with the CAD and the AUD. The rate of the NZD might be influenced by export volumes — the country depends on supply to China and Australia where New Zealand delivers, for example, milk products. If export volumes are increasing, it may hike the New Zealand dollar index as well.