DAILY NEWS BRIEF - MARKET OUTLOOK

July 8, 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 EUR/USD GBP/USD USD/JPY Silver Dow Jones (CME) S&P 500 (CME)

Market Wrap

Market Wrap: pre-opening session

U.S. market futures remain under pressure as oil jumps after U.S. President Donald Trump said that ceasefire with Iran is "over"

U.S. main stocks indexes closed red yesterday. The Dow Jones retreated from its record high, dropping 130 points (-0.25%) to 52,925. The S&P 500 fell 33 points (-0.45%) to 7,503, and the Nasdaq 100 declined 524 points (-1.77%) to 29,173.

Semiconductor and data storage stocks suffered another selloff.

On the economic front in the U.S. the Federal Reserve will release its latest FOMC meeting minutes.

European indices drop. U.S. President Donald Trump criticized Spain for failing to meet its NATO spending commitments and threatened to halt trade with the country.

Asian indices traded mostly lower with South Korea's Kospi falling another 5.35% and entering a bear market. Hong Kong’s Hang Seng Index outperformed to rise around 3.00%. On the economic plan, the Reserve Bank of New Zealand raised its benchmark rate by 25 basis points to 2.50% as expected.

WTI crude oil prices surge after Donald Trump comments regarding the ceasefire with Iran. That comes after the U.S. re-imposed sanctions on Iranian oil in response to attacks on vessels in the Strait of Hormuz.

Gold declines for a third straight session.

Bitcoin still eases below 64,000 dollars.

Premarket news

Energy stocks such as Chevron (CVX) or ExxonMobil (XOM) rise as oil prices soar. On the other hand travel stocks such as United Airlines (UAL) or Delta (DAL) lose ground.

Apple (AAPL), a consumer electronics giant, "announced a new multiyear commitment with Broadcom to design and produce custom silicon components and cutting-edge wireless connectivity technologies for a wide range of Apple products. The new agreement, expected to exceed 30 billion dollars, will lead to the production of more than 15 billion U.S.-made chips."

Coty (COTY), a beauty company, rises after having entered into an agreement to transition the Gucci Beauty license back to Kering for a consideration of around 400 million dollars. Under the terms of the agreement, Coty will continue to operate the Gucci Beauty brand through at least June 30, 2027, ending the license approximately one year ahead of the original license term.

Expected Today

No major earnings expected

Canada

On Tuesday, the S&P/TSX Composite Index rose 0.17% to 35,273, while the S&P/TSX 60 Index gained 0.30% to 2,076.

First Quantum Minerals (FM)'s, a mining company, target price was cut to 45.2 dollars from 46.3 dollars at Morgan Stanley.

Bombardier (BBD/B)'s, a global leader in aviation, target price was raised to 349 dollars from 296 dollars at National Bank of Canada.

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

Crude Oil (WTI)‎ (Q6)‎ intraday: further advance.

Pivot:

72.90

Our preference:

Long positions above 72.90 with targets at 75.15 & 76.00 in extension.

Alternative scenario:

Below 72.90 look for further downside with 71.80 & 71.25 as targets.

Comment:

The immediate trend remains up and the momentum is strong.

Trade

Gold intraday : the RSI is oversold

Our pivot point is at 4,115.

Our preference:

The downside prevails as long as 4,115 is resistance

Alternative scenario:

Above 4,115, look for 4,145 and 4,163.

Comment:

The RSI is below 30. It could either mean that the price is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 4,113 and 4,126). Finally, the Gold is trading below its lower Bollinger band (standing at 4,078).

Trade

EUR/USD intraday: under pressure.

Pivot:

1.1430

Our preference:

Short positions below 1.1430 with targets at 1.1375 & 1.1360 in extension.

Alternative scenario:

Above 1.1430 look for further upside with 1.1445 & 1.1455 as targets.

Comment:

As long as 1.1430 is resistance, look for choppy price action with a bearish bias.

Trade

GBP/USD intraday: under pressure.

Pivot:

1.3370

Our preference:

Short positions below 1.3370 with targets at 1.3300 & 1.3270 in extension.

Alternative scenario:

Above 1.3370 look for further upside with 1.3390 & 1.3400 as targets.

Comment:

As long as 1.3370 is resistance, look for choppy price action with a bearish bias.

Trade

USD/JPY intraday: further advance.

Pivot:

162.15

Our preference:

Long positions above 162.15 with targets at 162.63 & 162.73 in extension.

Alternative scenario:

Below 162.15 look for further downside with 162.00 & 161.83 as targets.

Comment:

The break above 162.15 is a positive signal that has opened a path to 162.63.

Trade

Silver intraday : the RSI is oversold

Our pivot point is at 60.25.

Our preference:

The downside prevails as long as 60.25 is resistance

Alternative scenario:

Above 60.25, look for 60.80 and 61.13.

Comment:

The RSI is below 30. It could either mean that the price is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 60.18 and 60.52). Finally, the Silver is trading below its lower Bollinger band (standing at 59.06).

Trade

Dow Jones (CME)‎ (U6)‎ intraday: the downside prevails.

Pivot:

52910

Our preference:

Short positions below 52910 with targets at 52410 & 52230 in extension.

Alternative scenario:

Above 52910 look for further upside with 53090 & 53260 as targets.

Comment:

The RSI has broken down its 30 level.

Trade

S&P 500 (CME)‎ (U6)‎ intraday: the downside prevails.

Pivot:

7530

Our preference:

Short positions below 7530 with targets at 7455 & 7430 in extension.

Alternative scenario:

Above 7530 look for further upside with 7565 & 7590 as targets.

Comment:

The RSI is bearish and calls for further downside.

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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