The inflation data from NZ came in lower than the market expected, and lower than the RBNZ had forecast:
At least one bank has brought forward its forecast for an RBNZ rate cut in response:
Despite this less hawkish news NZD has sustained its pop since the data:
![nzdusd 17 July 2024 2](https://images.forexlive.com/images/nzdusd%2017%20July%202024_id_df953733-71e2-4aec-9f11-ee519b8d27af_size900.jpg)
I'm sure we'll get some narrative to 'explain' this to us soon enough.
Don't ask me, I'm just gonna say 'more buyers than sellers' and annoy everyone even more.