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.
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DAILY NEWS BRIEF - MARKET OUTLOOK
May 22, 2026
 
   
 
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 are little changed as major U.S. stock indexes held up well on Thursday 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, a record closing level.

On the stat front in the U.S. the final reading of the Michigan consumer sentiment index for May will be released. It was 48.2 in first estimate and 49.8 in April.

In Canada, producer price index is expected to be up 10.0% year-on-year in April after a 7.8% rise in March. Separately, retail sales are estimated to increase by 0.5% month-on-month in April.

European indices rebound. On the stat plan, Germany's GfK consumer confidence index was -29.8 in June vs -34 expected and -33.1 a month earlier (revised from -33.3). Separately, Germany's Ifo business climate index edged up to 84.9 in May (84.6 anticipated) from 84.4 in April. In U.K. retail sales decreased 1.3% in April month-on-month vs -0.3% expected and +0.6% in March (revised from +0.7%).

Asian indexes traded higher, tracking Wall Street's gains. On the stat side, Japan’s data showed that the core inflation rate slowed to 1.4% year on year in April, lower than expected.

WTI crude oil prices rebound on U.S.-Iran peace deal uncertainty but continue to trade below 100 dollars.

Gold and silver both still consolidate.

Bitcoin is little changed around 77,000 dollars.
 
 
  Premarket news  
 
 
Merck (MRK), a pharma giant, is well oriented after partner biopharmaceutical company Sichuan Kelun-Biotech Biopharmaceutical reported that its experimental treatment paired with Keytruda from Merck demonstrated improved progression-free survival among patients with advanced lung cancer in a late-stage trial.

Estee Lauder (EL) soars after the cosmetics company and Spanish peer Puig announced they "have terminated discussions regarding a potential business combination".

Workday (WDAY), a leader in enterprise cloud applications for finance and human resources, surges on better-than-expected quarterly earnings. Also, the company raised its full-year margin forecast.

Zoom Communications (ZM), a video communications company, jumps as quarterly financial figures beat estimates. Also, the Board of Directors authorized the repurchase of an additional 1.0 billion dollars of Zoom’s shares.

Ross Stores (ROST), an off-price apparel and home fashion retailer, strongly rises as quarterly financial figures topped expectations. Moreover, the company raised full-year guidance.

Take-Two Interactive Software (TTWO), a video game publisher, jumps after reaffirming that Grand Theft Auto VI will be released next November. Also, quarterly sales slightly beat estimates.

Deckers Outdoor (DECK), a footwear designer and distributor, is well oriented after posting quarterly financial figures that topped expectations. Also, the company increased share repurchase authorization by an additional 3.5 billion dollars.

Peloton Interactive (PTON), an interactive fitness platform, jumps as the company will join the S&P SmallCap 600 index prior to the opening of trading on Wednesday, May 27.
 
 
  Expected Today  
 
 
No major earnings expected
 
 
  Canada  
 
 
On Thursday, the S&P/TSX Composite Index advanced 0.72% to close at 34,409, while the S&P/TSX 60 Index rose 0.83% to finish at 2,012.

CAE (CAE), a worldwide leader in training for the civil aviation, defence and security, and healthcare markets, reported quarterly adjusted EPS down 11% to 0.42 dollar yet just above estimates. Sales rose 4% to 1.33 billion dollars, slightly topping expectations. The company said that: "in Civil, performance is expected to remain below prior levels, reflecting ongoing softness in the civil aviation training market, softer demand for products, and the impact of optimization actions currently underway."

Agnico Eagle Mines (AEM) and Hudbay Minerals (HBM), mining companies, were both rated "overweight" in new coverages at Barclays. Peers Barrick Mining (ABX), Cameco (CCO) and Lundin Mining (LUN) were rated "equal-weight" still in new coverages at Barclays.
 
 
 
 
  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: rebound.
 
Pivot:
97.20
 
Our preference:
Long positions above 97.20 with targets at 100.00 & 101.30 in extension.
 
Alternative scenario:
Below 97.20 look for further downside with 95.70 & 94.80 as targets.
 
Comment:
The RSI calls for a rebound.
 
Analyst Views Chart
 
Trade
 
 
 
 
 
Gold intraday: intraday support around 4510.
 
Pivot:
4510
 
Our preference:
Long positions above 4510 with targets at 4552 & 4570 in extension.
 
Alternative scenario:
Below 4510 look for further downside with 4490 & 4467 as targets.
 
Comment:
A support base at 4510 has formed and has allowed for a temporary stabilisation.
 
Analyst Views Chart
 
Trade
 
 
 
 
 
EUR/USD intraday: intraday support around 1.1590.
 
Pivot:
1.1590
 
Our preference:
Long positions above 1.1590 with targets at 1.1630 & 1.1645 in extension.
 
Alternative scenario:
Below 1.1590 look for further downside with 1.1570 & 1.1555 as targets.
 
Comment:
The RSI lacks downward momentum.
 
Analyst Views Chart
 
Trade
 
 
 
 
 
GBP/USD intraday: bullish bias above 1.3395.
 
Pivot:
1.3395
 
Our preference:
Long positions above 1.3395 with targets at 1.3450 & 1.3470 in extension.
 
Alternative scenario:
Below 1.3395 look for further downside with 1.3375 & 1.3355 as targets.
 
Comment:
A support base at 1.3395 has formed and has allowed for a temporary stabilisation.
 
Analyst Views Chart
 
Trade
 
 
 
 
 
USD/JPY intraday: key resistance at 159.20.
 
Pivot:
159.20
 
Our preference:
Short positions below 159.20 with targets at 158.80 & 158.65 in extension.
 
Alternative scenario:
Above 159.20 look for further upside with 159.35 & 159.50 as targets.
 
Comment:
As long as 159.20 is resistance, look for choppy price action with a bearish bias.
 
Analyst Views Chart
 
Trade
 
 
 
 
 
Silver intraday: intraday support around 75.60.
 
Pivot:
75.60
 
Our preference:
Long positions above 75.60 with targets at 77.10 & 77.70 in extension.
 
Alternative scenario:
Below 75.60 look for further downside with 75.00 & 74.40 as targets.
 
Comment:
A support base at 75.60 has formed and has allowed for a temporary stabilisation.
 
Analyst Views Chart
 
Trade
 
 
 
 
 
Dow Jones (CME)‎ (M6)‎ intraday: the upside prevails.
 
Pivot:
50120
 
Our preference:
Long positions above 50120 with targets at 50900 & 51100 in extension.
 
Alternative scenario:
Below 50120 look for further downside with 49800 & 49540 as targets.
 
Comment:
The RSI is bullish and calls for further advance.
 
Analyst Views Chart
 
Trade
 
 
 
 
 
S&P 500 (CME)‎ (M6)‎ intraday: intraday support around 7437.
 
Pivot:
7437
 
Our preference:
Long positions above 7437 with targets at 7510 & 7539 in extension.
 
Alternative scenario:
Below 7437 look for further downside with 7407 & 7377 as targets.
 
Comment:
The RSI is mixed.
 
Analyst Views Chart
 
Trade
 
 
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