24/7 SUPPORT
Download App
Search
Popular Search
Published: 7 August 2026,11:12
Daily Market Analysis New
Key Takeaways:
*Dollar Index remains near the lower end of its recent range ahead of the NFP report
*Recent US labour data shows mixed but generally softer momentum
*July payrolls are expected to rise by around 80K, compared with 57K previously
*Gold consolidates as traders lock in profits before the next major Fed policy signal
The Dollar Index, which tracks the greenback against a basket of six major currencies, remained near the lower end of its recent range as traders stayed cautious ahead of the closely watched US Nonfarm Payrolls report. Although the dollar recovered slightly, overall momentum remained limited as investors avoided taking strong directional positions before the data release.
Recent US labour-market indicators have presented a mixed picture, but the broader tone points to softer momentum. Initial Jobless Claims came in at 199K, better than expectations of 203K, suggesting that layoffs remain contained. However, other employment-related indicators were less encouraging. JOLTS Job Openings fell to 7.359 million, below expectations of 7.440 million, while ADP Employment Change increased by only 44K, missing expectations of 68K. The ISM Services Employment Index also dropped to 47.4, below expectations of 51.2 and falling into contraction territory.
This mixed labour backdrop has kept the dollar in wait-and-see mode. Economists expect July payrolls to increase by around 80K, compared with the previous reading of 57K. A weaker-than-expected report could pressure the dollar further by reducing expectations that the Federal Reserve will tighten monetary policy again. On the other hand, an upside surprise may support Treasury yields and provide short-term strength for the greenback.
Gold prices also consolidated ahead of the jobs report, pulling back slightly after their recent rally as traders locked in profits. The precious metal has been supported by weaker US employment indicators and reduced expectations of aggressive monetary tightening, but investors remain cautious before receiving clearer confirmation from the NFP data.
The key risk for gold is whether the payroll report changes the market’s view on the Fed’s policy path. Stronger-than-expected payrolls, a lower unemployment rate, or firmer wage growth could lift Treasury yields and the US dollar, creating renewed pressure on non-yielding bullion. However, softer labour data may reinforce expectations of a less hawkish Fed, helping gold regain support.
Overall, both the dollar and gold remain highly sensitive to the upcoming NFP report. The data will be crucial in shaping expectations for Treasury yields, Fed policy, and near-term market direction.
Technical Analysis
The dollar index is trading higher, currently testing the 100.05 resistance level, which acts as a key near-term breakout zone.
Momentum indicators remain supportive, with the MACD showing increasing bullish momentum and the RSI at 50 rebounding sharply from oversold territory, suggesting that buying pressure is improving.
A confirmed breakout above 100.05 could extend gains toward the next resistance level at 100.65, reinforcing the short-term bullish structure.
However, if bullish momentum fails to sustain, the index may retrace and retest the 99.60 support level, followed by 99.05 if selling pressure increases.
Resistance Levels: 100.05, 100.65
Support Levels: 99.60, 99.05
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.
