Ella 
In early Asian trading on Monday, NZD/USD closed higher for the sixth consecutive day. NZD/USD hit its highest levels in months amid weakness in the greenback. NZD/USD is currently trading around 0.6224, with an intraday increase of 0.20%.
The latest data from Business NZ on Monday showed that New Zealand’s Business Services Performance Index (PSI) climbed to 51.2 in November from the previous value of 48.9, entering expansion territory. In addition, New Zealand’s Westpac McDermott Miller Consumer Confidence Index rose to 88.9 in the fourth quarter of 2023, the highest level in two years. This in turn boosts NZD/USD and is a tailwind for NZD/USD.
On the other hand, Chicago Federal Reserve (Fed) President Austin Goolsby said on Sunday that it was too early to declare victory in the war on inflation and that the decision to cut interest rates would depend on economic data. In addition, Atlanta Fed President Raphael Bostic said that if inflation falls as expected, the Fed could start cutting interest rates in the third quarter of 2024.
New Zealand will release its trade balance and New Zealand business confidence survey on Tuesday. Additionally, U.S. housing data will be released on Tuesday, including building permits and housing starts. Traders will look for NZD/USD trading opportunities from this data.
