June 9, 2026
DXY Breaks 100 – Strong NFP Fuels Hawkish Fed Bets
The US Dollar Index surged above 100.00, trading near 100.09, its highest level since March. Friday's Nonfarm Payrolls report showed 172k jobs added in May – double the forecast of 95k. The unemployment rate held at 4.3%. Markets now price in a >70% probability of a Fed rate hike by year-end.
Gold Plunges to $4,320 – 3‑Month Low
Gold fell to $4,320 per ounce, pressured by a strong dollar and rising rate expectations. The $4,300 level is key support. A break below could open $4,250. Resistance at $4,400. Despite Iran-Israel tensions, gold's safe‑haven appeal is being overshadowed by dollar strength.
Oil Volatile – Geopolitical Risks Persist
WTI crude spiked to $93.90 on Iran missile attacks over the weekend, then retreated to around $90. Iran launched ballistic missiles at Israel; Israel retaliated with airstrikes. Trump reportedly called Netanyahu to prevent further escalation, fearing it would "undermine" the fragile ceasefire. Oil remains range‑bound between $86 and $100.
Nikkei 225 Plunges 3.85% – Tech and Semiconductors Hit Hard
Japan's Nikkei 225 fell to 64,024, its worst drop in months. SoftBank Group fell 9.3%, Tokyo Electron fell 6.1%. Strong US jobs data pushed Treasury yields higher, pressuring global tech stocks.
ASX200 Ends Week Down 1.2% at 8,625
The Australian index retreated on profit‑taking and RBA caution. Tech stocks led declines (WiseTech -5%, Xero -3%), while energy stocks held up on oil prices.
Trading Takeaways
DXY Breaks 100 – Strong NFP Fuels Hawkish Fed Bets
The US Dollar Index surged above 100.00, trading near 100.09, its highest level since March. Friday's Nonfarm Payrolls report showed 172k jobs added in May – double the forecast of 95k. The unemployment rate held at 4.3%. Markets now price in a >70% probability of a Fed rate hike by year-end.
Gold Plunges to $4,320 – 3‑Month Low
Gold fell to $4,320 per ounce, pressured by a strong dollar and rising rate expectations. The $4,300 level is key support. A break below could open $4,250. Resistance at $4,400. Despite Iran-Israel tensions, gold's safe‑haven appeal is being overshadowed by dollar strength.
Oil Volatile – Geopolitical Risks Persist
WTI crude spiked to $93.90 on Iran missile attacks over the weekend, then retreated to around $90. Iran launched ballistic missiles at Israel; Israel retaliated with airstrikes. Trump reportedly called Netanyahu to prevent further escalation, fearing it would "undermine" the fragile ceasefire. Oil remains range‑bound between $86 and $100.
Nikkei 225 Plunges 3.85% – Tech and Semiconductors Hit Hard
Japan's Nikkei 225 fell to 64,024, its worst drop in months. SoftBank Group fell 9.3%, Tokyo Electron fell 6.1%. Strong US jobs data pushed Treasury yields higher, pressuring global tech stocks.
ASX200 Ends Week Down 1.2% at 8,625
The Australian index retreated on profit‑taking and RBA caution. Tech stocks led declines (WiseTech -5%, Xero -3%), while energy stocks held up on oil prices.
Trading Takeaways
- Dollar: Bullish above 100. Support at 99.40, resistance at 100.60-101.00.
- Gold: Bearish below $4,400. Support at $4,300.
- Oil: Range‑bound. Support at $86-88, resistance at $94-95.
