DAILY NEWS BRIEF - MARKET OUTLOOK

July 22, 2026

Here are today's directional views from the global research desks of Ventura Prime FX! These are starting points for your own research to identify opportunities that make sense for you.

Crude Oil (WTI) GBP/USD USD/JPY EUR/USD Gold Silver Dow Jones (CME) S&P 500 (CME)

Market Wrap

Market Wrap: Stocks, Bonds, Commodities

On Tuesday, the S&P 500 rebounded 65 points (+0.89%) to 7,509, halting a three-session losing streak. The Nasdaq 100 climbed 550 points (+1.93%) to 29,155, and the Dow Jones gained 385 points (+0.74%) to 52,224.

Semiconductor stocks rallied across the board, with Micron (MU) bouncing 12.17%, Intel (INTC) up 8.64%, and Advanced Micro Devices (AMD) up 8.11%.

Nvidia (NVDA) climbed 1.97%, Broadcom (AVGO) gained 2.21%, and Marvell Technology (MRVL) was up 6.68%.

Data-storage stocks also performed well, with Sandisk (SNDK) jumping 14.27%, Western Digital (WDC) up 12.51%, and Seagate Technology (STX) up 11.14%.

Tesla (TSLA) advanced 2.53%, while Alphabet (GOOGL) fell 1.38%. Both companies will report earnings in after-market hours on Wednesday.

General Motors (GM) added 4.91% and 3M Company (MMM) was up 7.32%. Both companies raised their full-year earning guidance.

After reporting quarterly earnings, Danaher (DHR) fell 10.99%, Schwab (SCHW) dropped 2.52%, and Halliburton (HAL) was down 5.47%.

Nebius (NBIS) surged 18.78% after Nvidia disclosed a 9.3% stake in the neocloud computing firm.

The U.S. 10-year Treasury yield advanced another 3.2 basis points to 4.626%.

European stocks also closed higher, with the DAX 40 rising 0.66%, the CAC 40 up 0.28%, and the FTSE 100 up 0.58%.

U.S. WTI crude futures increased 1.86 dollars (+2.26%) to 84.34 dollars a barrel, a five-week high. The U.S. and Iran continued to exchange attacks in the Middle East.

Gold gained 69 dollars (+1.73%) to 4,077 dollars an ounce.

Market Wrap: Forex

The U.S. dollar kept strengthening, with the dollar index crossing above 101 and posting a four-session rally.

USD/JPY ran up to 163.24, its highest level since 1986.

EUR/USD fell 16 pips to 1.1398. Germany’s ZEW economic sentiment index rose to 23.4 in July, much higher than expected.

GBP/USD slipped 53 pips to 1.3375. In the U.K., the latest jobless rate remained stable at 4.9% (vs 5.0% expected).

USD/CHF climbed 28 pips to 0.8126, and USD/CAD was up 35 pips to 1.4104.

Bitcoin kept its upward momentum, surpassing 66,000 dollars.

Morning Trading

In Asian trading hours, USD/JPY eased to 163.10. Japan's exports rose 19.3% year-on-year in June, above 18.6% expected.

Meanwhile, EUR/USD rebounded to 1.1406 and GBP/USD edged up to 1.3386.

Gold bounced to 4,128 dollars.

Bitcoin was firm at 66,277 dollars.

Expected Today

U.K. inflation is expected to ease to 2.7% year-on-year in June.

Please note that due to market volatility, some of the key levels may have already been reached and scenarios played out.

Crude Oil (WTI)‎ (U6)‎ intraday: the bias remains bullish.

Pivot:

83.30

Our preference:

Long positions above 83.30 with targets at 86.20 & 87.70 in extension.

Alternative scenario:

Below 83.30 look for further downside with 81.85 & 81.10 as targets.

Comment:

The RSI is mixed with a bullish bias.

Trade

GBP/USD intraday: aim @ 1.3355.

Pivot:

1.3410

Our preference:

Short positions below 1.3410 with targets at 1.3355 & 1.3340 in extension.

Alternative scenario:

Above 1.3410 look for further upside with 1.3430 & 1.3455 as targets.

Comment:

As long as 1.3410 is resistance, expect a return to 1.3355.

Trade

USD/JPY intraday: 163.40 expected.

Pivot:

162.90

Our preference:

Long positions above 162.90 with targets at 163.40 & 163.60 in extension.

Alternative scenario:

Below 162.90 look for further downside with 162.70 & 162.50 as targets.

Comment:

The RSI lacks downward momentum.

Trade

EUR/USD intraday: capped by a negative trend line.

Pivot:

1.1415

Our preference:

Short positions below 1.1415 with targets at 1.1390 & 1.1375 in extension.

Alternative scenario:

Above 1.1415 look for further upside with 1.1430 & 1.1445 as targets.

Comment:

The upward potential is likely to be limited by the resistance at 1.1415.

Trade

Gold intraday: bullish bias above 4085.

Pivot:

4085

Our preference:

Long positions above 4085 with targets at 4155 & 4180 in extension.

Alternative scenario:

Below 4085 look for further downside with 4065 & 4043 as targets.

Comment:

The RSI shows upside momentum.

Trade

Silver intraday: expect 61.00.

Pivot:

58.60

Our preference:

Long positions above 58.60 with targets at 60.50 & 61.00 in extension.

Alternative scenario:

Below 58.60 look for further downside with 57.80 & 57.25 as targets.

Comment:

The RSI shows upside momentum.

Trade

Dow Jones (CME)‎ (U6)‎ intraday: the bias remains bullish.

Pivot:

52300

Our preference:

Long positions above 52300 with targets at 52580 & 52760 in extension.

Alternative scenario:

Below 52300 look for further downside with 52170 & 52030 as targets.

Comment:

A support base at 52300 has formed and has allowed for a temporary stabilisation.

Trade

S&P 500 (CME)‎ (U6)‎ intraday: bullish bias above 7525.

Pivot:

7525

Our preference:

Long positions above 7525 with targets at 7575 & 7596 in extension.

Alternative scenario:

Below 7525 look for further downside with 7505 & 7474 as targets.

Comment:

The break above 7525 is a positive signal that has opened a path to 7575.

Trade

TRADING FOREIGN EXCHANGE ON MARGIN CARRIES A HIGH LEVEL OF RISK AND MAY NOT BE SUITABLE FOR ALL INVESTORS.

THE POSSIBILITY EXISTS THAT YOU COULD SUSTAIN A LOSS OF SOME OR ALL OF YOUR INITIAL INVESTMENT AND THEREFORE YOU SHOULD NOT INVEST MONEY THAT YOU CANNOT AFFORD TO LOSE.

THE HIGH DEGREE OF LEVERAGE CAN WORK AGAINST YOU AS WELL AS FOR YOU. BEFORE DECIDING TO TRADE FOREIGN EXCHANGE OR CFD’S YOU SHOULD CAREFULLY CONSIDER YOUR INVESTMENT OBJECTIVES, LEVEL OF EXPERIENCE, AND RISK APPETITE.

YOU SHOULD BE AWARE OF ALL THE RISKS ASSOCIATED WITH FOREIGN EXCHANGE AND OTHER CFD TRADING, AND SEEK ADVICE FROM AN INDEPENDENT FINANCIAL ADVISOR IF YOU HAVE ANY DOUBTS. VPFX RECOMMENDS READING THE RISK DISCLOSURE SECTION OF THE PROSPECTUS FOR ANY FINANCIAL PRODUCT MENTIONED.

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