The NZD/USD pair has trimmed some of its modest intraday gains following the release of softer inflation expectations data in New Zealand. The pair had been showing some strength earlier in the day, but the disappointing data caused a slight pullback.
Investors are closely monitoring economic indicators like inflation expectations to gauge the health of the New Zealand economy. The softer data suggests that there may be some concerns about inflation levels in the country.
Despite this setback, the NZD/USD pair remains relatively stable and continues to trade within a narrow range. Traders will be keeping an eye on any further data releases that could impact the pair’s movement in the coming days.
Overall, the market sentiment towards the NZD/USD pair remains cautious, with investors weighing various factors that could influence the currency pair’s direction.