Press Release
Ultima Markets Daily Market Insights – 29 June 2026
Macro Drivers: Easing Geopolitics and NFP in Focus
Global markets have started the week on a cautiously optimistic note. US equity index futures have edged higher, recovering part of last week’s decline as geopolitical tensions between the US and Iran show signs of easing.
Volatility is expected to remain relatively subdued on Monday as investors reassess the
current landscape. Attention now turns to the US Non-Farm Payrolls (NFP) report, which has been rescheduled to Thursday, 2 July due to the Independence Day market closure.
This data will be a key indicator in determining whether the Federal Reserve may need to proceed with further interest rate increases.
US Indices Eye Key Support Levels
As markets await the NFP release, the near-term outlook for US equities remains cautiously optimistic.
Nasdaq 100 Analysis
The Nasdaq 100 has posted a modest rebound but continues to trade below the key 30,000 level. This leaves the index vulnerable, with a potential move lower towards the 28,700 support area if the level fails to hold.
Technically, the index remains under pressure and may continue within a corrective or consolidative phase unless it can reclaim the 30,000 mark.
S&P 500 Analysis
The S&P 500 has found support near 7,350 and seen a slight recovery. However, resistance remains firm around 7,500, limiting upside momentum.
In the near term, the index is expected to move within a range, suggesting continued consolidation.
Gold: Holding the $4,000 Level
Gold is maintaining the key psychological support level at $4,000. While some buying interest has returned amid a slightly softer US dollar, upside remains capped below $4,100.
The intraday outlook is cautiously bullish, with “buy on dip” opportunities near $4,000 favoured. A clearer bullish outlook would require a sustained break above $4,100.
US Dollar: Remains Elevated
The US dollar begins the week slightly softer as geopolitical concerns ease, although the broader trend remains supportive.
With the NFP report approaching, the dollar is likely to consolidate. The 101.00 level remains key; if broken, attention will shift to 100.00. A “buy on dip” approach continues to be preferred.
Disclaimer
Comments, news, research, analysis, price, and all information contained in the article only serve as general information for readers and do not suggest any advice. Ultima Markets has taken reasonable measures to provide up-to-date information, but cannot guarantee accuracy, and may modify without notice. Ultima Markets will not be responsible for any loss incurred due to the application of the information provided.
