The NZD/USD pair has shown significant strength, extending its upside momentum to approach 0.5750. This upward movement comes as traders gear up for the upcoming release of crucial US Producer Price Index (PPI) data.

Market participants will be closely monitoring the PPI release as it may provide insights into inflation trends and influence the Federal Reserve’s monetary policy decisions. A positive print could further support the NZD, while any negative surprises might see the pair retreat.

Traders should prepare for potential volatility surrounding this event, as the outcome can significantly impact the currency markets.