• NZD/USD gains ground to around 0.5875 in Monday’s early Asian session. 
• New Zealand’s PPI Input and Output were stronger than expected in Q3;  Business NZ PSI improved in October. 
• Strong US data and muted expectations for US rate cuts might cap the pair’s upside. 

The NZD/USD pair trades in positive territory near 0.5875 on Monday during the early Asian session. The pair edges higher on the stronger-than-expected New Zealand economic data and the consolidation of the Greenback. 

Data released by Statistics New Zealand on Monday showed that New Zealand’s Producer Price Index (PPI) Input climbed 1.9% QoQ in the third quarter (Q3), compared to 1.4% in the previous reading. Meanwhile, the PPI Output rose 1.5% QoQ in Q3 versus 1.1% prior. Both figures came in better than the estimations. Additionally, the Business NZ Performance of Services Index (PSI) improved to 46.0 in October from 45.7 in September. The upbeat economic data provides some support to the New Zealand Dollar (NZD) against the US Dollar (USD).