NZD/USD aims to continue a three-day winning spell amid a risk-on mood. Soft US labor demand tempered wage growth would allow the Fed to keep rates steady further. The RBNZ is expected to keep its OCR unchanged at 5.50%, consecutively for the fourth time on November 29. 6000.
2% also warranted that current rates by the Fed are sufficiently restrictive. The US Dollar Index edges below the crucial support of 105.00 as demand for safe-haven bets eases. Further action in the US Dollar will be guided by the speech from Fed Chair Jerome Powell, which is scheduled for Wednesday. On the New Zealand Dollar front, soft labor demand and easing wage growth indicate that the Reserve Bank of New Zealand will keep interest rates unchanged at 5.50% for a longer period.