24/7 SUPPORT
Download App
Search
Popular Search
Published: 3 July 2026,06:23
Daily Market Analysis New
*US dollar retreats sharply after weaker-than-expected Nonfarm Payrolls data
*June payrolls rose only 57,000, well below market expectations of 110,000
*Gold extended gains as softer labor data supported demand for the precious metal
The Dollar Index, which tracks the greenback against a basket of six major currencies, retraced sharply after the latest U.S. jobs report came in much weaker than expected. The disappointing data prompted investors to reassess whether the Federal Reserve still has enough economic support to justify further rate hikes in the near term.
According to the Bureau of Labor Statistics, U.S. Nonfarm Payrolls increased by only 57,000 in June, significantly below market expectations of 110,000. Meanwhile, the unemployment rate edged lower to 4.2%, broadly in line with expectations. Despite the stable unemployment rate, the sharp slowdown in hiring raised concerns that momentum in the U.S. labor market may be weakening.
The weaker payrolls report, combined with the recent decline in oil prices, reduced market expectations that the Fed may need to tighten monetary policy further to fight inflation. As rate hike bets eased, U.S. Treasury yields dropped, adding further pressure on the dollar.
This softer dollar and lower-yield environment provided support for gold. The precious metal held two days of gains as investors reduced expectations that the Fed would raise interest rates at its next policy meeting in July.
Gold tends to benefit when Treasury yields fall, as lower yields reduce the opportunity cost of holding non-yielding assets. At the same time, a weaker dollar makes dollar-denominated gold more attractive to foreign buyers, helping improve demand.
Overall, the weak jobs data shifted market focus back toward slowing growth risks and a less aggressive Fed outlook. Unless upcoming U.S. data rebounds strongly, the dollar may remain under pressure, while gold could continue to find support from lower yields and reduced rate hike expectations.
Technical Analysis
Dollar Index, H4:
The dollar index is trading lower after breaking below the previous 100.95 support level, signaling a bearish shift in short-term structure.
Momentum indicators remain tilted to the downside, with the MACD showing increasing bearish momentum and the RSI at 35 staying below the midline, suggesting that selling pressure may persist.
If bearish momentum continues, the index could extend losses toward the next support at 100.10, which also aligns with the upward trendline. Further downside may expose 99.50.
However, if bearish momentum begins to fade, the index may stage a technical rebound and retest the 100.95 resistance level, followed by 101.80 if recovery strengthens.
Resistance Levels: 100.95, 101.80
Support Levels: 100.10, 99.50
GOLD, H4:
Gold prices are trading higher, currently testing the 4,205.00 resistance level, which acts as a key near-term breakout zone.
Momentum remains supportive, with the MACD showing increasing bullish momentum and the RSI at 71 entering overbought territory, suggesting strong upside pressure but also raising the risk of a near-term technical correction.
A confirmed breakout above 4,205.00 could extend gains toward the next resistance at 4,350.00, reinforcing the bullish structure.
However, if bullish momentum fails to sustain, gold may retrace and retest the 4,085.00 support level, followed by 3,960.00 if selling pressure increases.
Resistance Levels: 4205.00, 4350.00
Support Levels: 4085.00, 3960.00
Trade forex, indices, metal, and more at industry-low spreads and lightning-fast execution.
Sign up for a PU Prime Live Account with our hassle-free process.
Effortlessly fund your account with a wide range of channels and accepted currencies.
Access hundreds of instruments under market-leading trading conditions.
Trading Platforms
Learn
About PU Prime
Corporate
Important Notice to Visitors
Our products and services are not offered or made available to residents of your jurisdiction. The information on this Website is not directed at persons in your jurisdiction and is not intended as an offer, solicitation, or promotion of our products or services to them.
By clicking “I Understand”, you acknowledge this notice and confirm that you are accessing this Website at your own initiative. Access to this Website does not mean that our products or services are available to you.
Important Notice
Please be advised that our products and services are currently unavailable to residents and entities located in the Philippines.
This restriction is a result of our firm commitment to adhering to applicable legal and regulatory requirements in all jurisdictions where we operate. In line with our internal compliance protocols and evolving global standards, we continuously assess and update access to our platform to ensure full regulatory alignment.
We appreciate your understanding and cooperation.
If you believe this restriction has been applied in error, please contact our support team for further assistance.
Dear Valued Client,
As part of PU Prime’s ongoing commitment to providing a stable and reliable trading environment, please be informed of the following weekly weekend scheduled optimisation activities:
We sincerely apologise for any inconvenience this may cause as we strive to provide you with better service. PU Prime is committed to providing you with the best trading experience and this Weekly Scheduled Optimisation Notice will enable us to ensure that you trade without any unexpected interruptions.
For other upgrades that may involve longer disruptions to your trading, we will announce them ahead of time in a separate announcement.
Important Notice:
Important Notice: Please note the Website is intended for individuals residing in jurisdictions where accessing the Website is permitted by law.
Please note that PU Prime and its affiliated entities are neither established nor operating in your home jurisdiction.
By clicking the "Acknowledge" button, you confirm that you are entering this website solely on your own initiative and not as a result of any specific marketing outreach. You wish to obtain information from this website which is provided on a reverse solicitation basis in accordance with the laws of your home jurisdiction.
Important Notice:
Please note the Website is intended for individuals residing in jurisdictions where accessing the Website is permitted by law.
Please note that PU Prime and its affiliated entities are neither established nor operating in your home jurisdiction.
By clicking the "Acknowledge" button, you confirm that you are entering this website solely based on your initiative and not as a result of any specific marketing outreach. You wish to obtain information from this website which is provided on reverse solicitation in accordance with the laws of your home jurisdiction.
Aviso importante:
Ten en cuenta que el sitio web está destinado a personas que residen en jurisdicciones donde el acceso al sitio web está permitido por la ley.
Ten en cuenta que PU Prime y sus entidades afiliadas no están establecidas ni operan en tu jurisdicción de origen.
Al hacer clic en el botón "Aceptar", confirmas que estás ingresando a este sitio web por tu propia iniciativa y no como resultado de ningún esfuerzo de marketing específico. Deseas obtener información de este sitio web que se proporciona mediante solicitud inversa de acuerdo con las leyes de tu jurisdicción de origen.
