NZD/USD holds near strongest levels in a month

• NZD/USD is flat into the early close on Wall Street.
• Kiwi traders will look to the Q4 NZIER QSBO survey.

NZD/USD travelled between a low of 0.6361 and a high of 0.6426, currently flat on the day albeit hovering near its strongest levels in a month. The Kiwi has benefitted in a risk-on environment since the US Dollar was sold off on the back of a switch in sentiment surrounding the Federal Reserve’s interest rate path. 

Easing US inflation has fueled bets for a less aggressive tightening from the Federal Reserve at the same time that China’s reopening has bolstered the outlook for the global economy. In turn, there is a demand for commodities for which the Kiwi trades as a proxy to.