NZD/USD continues to trade near 30-month lows after disappointing GDT auction

NZD/USD breaks below mid-0.65s to refresh its lowest level since Feb. 2016.
Upbeat PMI data from the U.S. help the US Dollar Index preserve its bullish momentum.
GDT auction reveals a decline in GDT price index.

Eren Sengezer FXStreet

The NZD/USD pair extended its losses for the sixth straight day on Tuesday and touched its lowest level since early 2016 at 0.6540. As of writing, the pair was trading a couple of pips above that level, losing 0.86% on the day.

Earlier in the day, the NZD struggled to find demand as concerns over the U.S. - China trade relations continue to keep investors on edge. On Thursday, the U.S. is expected to impose new tariffs on $200 billion worth of Chinese goods.

On the other hand, the data from the U.S. on Tuesday showed that the manufacturing businesses were concerned about the potential negative impact of trade tariffs, the business activity continued to expand at a faster pace than expected. The Markit Manufacturing PMI and the ISM Manufacturing PMI came in at 54.7 and 72.1 respectively to beat the analysts' estimates. After staying quiet on Labor Day, the US Dollar Index gained traction on Tuesday and touched its highest level in two weeks at 95.74 before retracing a portion of its gains. At the moment, the index is up 0.4% on the day at 95.50.

In the meantime, New Zealand's bi-weekly GDT auction showed that the GDT price index declined 0.7% following the 3.6% fall witnessed in the previous auction and put some additional selling pressure on the kiwi.

Technical levels to consider

The pair could face the initial support at 0.6500 (psychological level), 0.6460 (Feb. 2, 2016, low) and 0.6415 (Jan. 27, 2016, low). On the upside, resistances are located at 0.6600 (daily high), 0.6660 (Aug. 31 high) and 0.6715 (50-DMA).

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

GBP/USD nudges higher above 1.3350 despite Middle East turmoil

The GBP/USD pair rebounds to near 1.3385 during the Asian trading hours on Thursday. However, the potential upside for the major pair might be limited amid cooler-than-expected UK inflation data and escalating tensions in the Middle East. Traders will take more cues from the UK Retail Sales report, which is due later on Friday.

EUR/USD advances ahead of ECB policy decision

EUR/USD extends its gains for the second consecutive day, trading around 1.1410 during the Asian hours on Thursday. The pair gains ground as the Euro finds solid support ahead of the European Central Bank's upcoming interest rate decision.

Gold extends range play above $4,100 as inflation fears lift Fed hike bets and cap gains

Gold consolidates above the $4,100 round figure through the Asian session, and seems to have stalled its modest pullback from an over two-week high touched the previous day. Crude oil prices climb to a fresh high since June 11 amid a further escalation of tensions between the US and Iran, fueling inflation fears and bolstering US Fed interest rate hike expectations.

Hyperliquid, Robinhood could lead crypto’s next bull market as DeFi and TradFi converge

The next crypto bull market could be driven by the growing convergence between blockchain-based financial infrastructure and traditional finance, according to Bitwise CIO Matt Hougan. In a report published late Tuesday, Hougan argued that crypto may be showing early signs of a market bottom, with Bitcoin gaining 9% since July 1 even as the NASDAQ 100 declined 6%.

Ripple and Stellar await direction amid cautious sentiment

Ripple and Stellar trade cautiously as both tokens hover around key technical levels. XRP is testing resistance at its 50-day EMA, while XLM continues to consolidate around the $0.187 support zone. Meanwhile, mixed derivatives data with a slight bearish tilt suggests traders remain cautious, keeping the next directional move uncertain.

US Dollar mid-year outlook: Exceptional currency, exceptional risks?

The US Dollar enters the second half of 2026 in a markedly different position from a year ago. The King currency has recovered, reflecting persistent US inflation, changing expectations for Fed policy, geopolitical tensions and renewed demand for defensive assets.