Platinum falls for first time in three sessions, dollar inches up

Platinum prices fell nearly one percent in American trade as the dollar index scaled July 19 highs, amid a lack of data from the US, the world's largest economy. 

As of 01:39 GMT, platinum shed 0.89% to %823.60 an ounce, while the dollar index added 0.26% to 95.41, marking three-week highs. 

Last Friday saw the release of the US payrolls report, which showed the unemployment rate fell to 3.9% as expected from 4.0% in June, while average hourly earnings rose 0.3% as expected, up from 0.1% in June. 

The economy added 157 thousand jobs last month, down from 248 thousand in June, and missing estimates of 191K, as the trade deficit rose to $46.3 billion from $43.2 billion in May, below estimates of $46.5 billion. 

The US ISM services PMI fell to 55.7 in July from 59.1 in June, missing estimates of 58.6, while the trade deficit widened to $46.3 billion in June from $43.2 billion in May, below estimates of $46.5 billion. 

The mostly disappointing US data released last week blunted some of the momentum behind two more Federal Reserve rate hikes this year. 

However, investors are still betting on two rate hikes in September and December, with inflation data slated for release soon to offer some insight into the debate.