Press Release
Ultima Market Insights – 8 July 2026
Middle East Sparks Inflation Fears Again
Global markets are trading cautiously as renewed Middle East tensions and weaker technology sentiment weigh on risk appetite, pressuring the Nasdaq 100.
The shift follows a fresh escalation between the US and Iran. The US launched targeted air strikes against Iranian assets after reported attacks on commercial vessels in the Strait of Hormuz, while Iranian media reported explosions across southern regions.
The reinstatement of restrictions on Iranian crude exports has pushed oil prices higher and revived concerns over energy-driven inflation.
As a result, expectations for a September rate hike have strengthened. The US 10-year Treasury yield rose to 4.55%, while the two-year yield climbed to 4.188%.
Central Bank & Macro Focus: FOMC Minutes in View
Attention now turns to the FOMC Meeting Minutes.
Investors will look for signs of a more hawkish policy stance before recent inflation concerns emerged. However, the impact on the US dollar and gold may be limited, as markets have largely priced in a higher-for-longer outlook.
Technical Outlook – 8 July 2026
US Dollar Index (DXY) Analysis
Rising Treasury yields and safe-haven flows have supported the US dollar. However, 101.00 remains a key resistance level.
While the outlook remains cautiously bullish, failure to break above 101.00 could keep the dollar within a wider consolidation range.
Gold (XAU/USD) Analysis
Higher yields and a stronger US dollar have capped gold’s recent gains, with resistance near $4,200.
Gold is now testing support at $4,100, a crucial level for maintaining the bullish structure. Continued strength in yields and the dollar may place further pressure on prices.
Crude Oil (Brent) Analysis
Brent crude has recovered as supply concerns in the Strait of Hormuz return.
Prices have rebounded from $70 and are approaching the $77–$80 resistance zone. The short-term outlook remains bullish, with dips above $74 likely to attract buyers.
Market Summary
Markets remain under pressure as escalating Middle East tensions support the US dollar, lift Treasury yields and fuel inflation concerns. Gold is testing support at $4,100, while Brent crude continues to recover towards the $77–$80 resistance zone.
What to Watch Today
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Middle East Tensions: Monitor developments between the US and Iran.
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FOMC Minutes: Watch for unexpected hawkish signals from the Federal Reserve.
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.
