DAILY NEWS BRIEF - MARKET OUTLOOK

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

Market Wrap

Market Wrap: Stocks, Bonds, Commodities

On Thursday, major U.S. stock indexes held up well after gaining more than 1% in the prior session, with the S&P 500 edging up 12 points (+0.17%) to 7,445, and the Nasdaq 100 up 59 points (+0.2%) to 29,357.

The Dow Jones climbed 276 points (+0.55%) to 50,285.

Nvidia (NVDA) closed 1.77% lower despite reporting better-than-expected quarterly results, raising dividend and announcing an 80-billion-dollar share buyback.

Meanwhile, Arm Holdings (ARM) surged a further 16.16% after gaining 15% in the prior session.

Also, Micron (MU) rose 4.11%, Sandisk (SNDK) climbed 10.75%, and Western Digital (WDC) was up 5.84%.

IBM (IBM) advanced 12.43%. The company has been awarded 1 billion in federal funding to build a quantum chip foundry.

Ralph Lauren (RL) soared 13.87%. The apparel maker posted better-than-expected quarterly revenue and earnings, citing strong sales in China.

The U.S. 10-year Treasury yield dipped 1.3 basis points to 4.572%.

In Europe, the DAX 40 declined 0.53%, and the CAC 40 was down 0.39%, while the FTSE 100 closed 0.11% higher.

U.S. WTI crude futures dropped 1.91 dollars (-1.94%) to 96.35 dollars a barrel, while gold was little changed at 4,543 dollars an ounce.

Market Wrap: Forex

The U.S. dollar held steady against other major currencies.

U.S. housing starts fell 2.8% month on month in April (vs -3.5% expected, +12.0% in March).

Building permits grew 5.8% month on month in April (vs +0.5% expected, -11.5% in March).

EUR/USD slipped 10 pips to 1.1617.

USD/JPY added 6 pips to 158.97. Japan's exports rose 14.8% year on year in April (vs +9.3% expected, +11.5% in March).

This morning, Japan’s data showed that the core inflation rate slowed to 1.4% year on year in April, lower than expected.

GBP/USD was little changed at 1.3433.

AUD/USD was largely flat at 0.7151. In Australia, the number of employed persons fell 18,600 in April, in contrast to an addition of 10,000 expected.

Bitcoin was stable at 77,600 dollars.

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

Crude Oil (WTI)‎ (N6)‎ intraday: key resistance at 100.00.

Pivot:

100.00

Our preference:

Short positions below 100.00 with targets at 95.70 & 94.50 in extension.

Alternative scenario:

Above 100.00 look for further upside with 101.30 & 102.60 as targets.

Comment:

As long as the resistance at 100.00 is not surpassed, the risk of the break below 95.70 remains high.

Trade

Gold intraday: turning up.

Pivot:

4510

Our preference:

Long positions above 4510 with targets at 4570 & 4588 in extension.

Alternative scenario:

Below 4510 look for further downside with 4477 & 4452 as targets.

Comment:

The RSI is mixed with a bullish bias.

Trade

USD/JPY intraday: choppy.

Pivot:

159.25

Our preference:

Short positions below 159.25 with targets at 158.80 & 158.60 in extension.

Alternative scenario:

Above 159.25 look for further upside with 159.45 & 159.65 as targets.

Comment:

As long as 159.25 is resistance, look for choppy price action with a bearish bias.

Trade

EUR/USD intraday: the bias remains bullish.

Pivot:

1.1585

Our preference:

Long positions above 1.1585 with targets at 1.1645 & 1.1660 in extension.

Alternative scenario:

Below 1.1585 look for further downside with 1.1570 & 1.1555 as targets.

Comment:

A support base at 1.1585 has formed and has allowed for a temporary stabilisation.

Trade

Dow Jones (CME)‎ (M6)‎ intraday: look for 50900.

Pivot:

49800

Our preference:

Long positions above 49800 with targets at 50900 & 51100 in extension.

Alternative scenario:

Below 49800 look for further downside with 49540 & 49290 as targets.

Comment:

The RSI shows upside momentum.

Trade

S&P 500 (CME)‎ (M6)‎ intraday: 7539 in sight.

Pivot:

7407

Our preference:

Long positions above 7407 with targets at 7510 & 7539 in extension.

Alternative scenario:

Below 7407 look for further downside with 7377 & 7355 as targets.

Comment:

The RSI calls for a new upleg.

Trade

GBP/USD intraday: the bias remains bullish.

Pivot:

1.3395

Our preference:

Long positions above 1.3395 with targets at 1.3460 & 1.3480 in extension.

Alternative scenario:

Below 1.3395 look for further downside with 1.3375 & 1.3355 as targets.

Comment:

The next resistances are at 1.3460 and then at 1.3480.

Trade

Silver intraday: rebound expected.

Pivot:

75.20

Our preference:

Long positions above 75.20 with targets at 77.70 & 78.90 in extension.

Alternative scenario:

Below 75.20 look for further downside with 74.40 & 73.05 as targets.

Comment:

The RSI calls for a bounce.

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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