DAILY NEWS BRIEF - MARKET OUTLOOK

July 17, 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, tech stocks led the U.S. market lower, with the Nasdaq 100 falling 476 points (-1.62%) to 29,025, the S&P 500 down 38 points (-0.51%) to 7,533, and the Dow Jones down 105 points (-0.20%) to 52,552.

Alphabet (GOOGL) lost 4.44%, Meta (META) dropped 2.46%, and Amazon (AMZN) was down 1.99%.

In contrast, Apple (AAPL) rose 1.76% to a record closing level of 333.26 dollars.

Taiwan Semiconductor Manufacturing (TSM) fell 2.20%, even as the chipmaker reported a 77% year-on-year jump in second-quarter profit. The company also announced plans to invest an additional 100 billion dollars in Arizona, bringing its total investment in the state to 265 billion dollars.

Other semiconductor stocks remained under heavy selling pressure, with Nvidia (NVDA) declining 2.39%, Intel (INTC) down 5.84%, and Micron (MU) down 5.65%.

Marvell Technology (MRVL) tumbled 8.71%, Advanced Micro Devices (AMD) slid 5.33%, and Broadcom (AVGO) was down 5.03%.

Data-storage stocks performed even worse, with Sandisk (SNDK) plunging 12.63%, Seagate Technology (STX) down 10.00%, and Western Digital (WDC) down 9.15%.

Space Exploration Technologies (SPCX) declined 3.08% to the lowest closing level since its IPO.

The U.S. 10-year Treasury yield was little changed at 4.557%.

In Europe, the DAX 40 fell 0.34%, and the CAC 40 dipped 0.05%, while the FTSE 100 closed 0.54% higher.

U.S. WTI crude futures retreated 65 cents to 78.95 dollars a barrel, ending a three-session rally.

Gold broke below the key 4,000-dollar level, falling 84 dollars (-2.08%) to 3,976 dollars an ounce.

Market Wrap: Forex

The U.S. dollar rebounded after two losing sessions, with EUR/USD easing 23 pips to 1.14400 and USD/JPY gaining 20 pips to 162.38.

U.S. retail sales grew 0.2% month-on-month in June, in line with expectations.

GBP/USD slipped 65 pips to 1.3474. U.K. data showed gross domestic product added 0.1% month-on-month in May, matching expectations. However, industrial production shrank 0.5% month-on-month in May (vs -0.1% expected).

USD/CHF advanced 38 pips to 0.8088, while AUD/USD dipped 13 pips to 0.6993.

Bitcoin failed to secure the 65,000-dollar level, retreating more than 1% to 63,900 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)‎ (Q6)‎ intraday: rebound.

Pivot:

78.55

Our preference:

Long positions above 78.55 with targets at 80.60 & 81.20 in extension.

Alternative scenario:

Below 78.55 look for further downside with 77.85 & 77.00 as targets.

Comment:

The RSI calls for a bounce.

Trade

Gold intraday: watch 3942.

Pivot:

4015

Our preference:

Short positions below 4015 with targets at 3942 & 3900 in extension.

Alternative scenario:

Above 4015 look for further upside with 4040 & 4071 as targets.

Comment:

As long as 4015 is resistance, likely decline to 3942.

Trade

USD/JPY intraday: bullish bias above 162.15.

Pivot:

162.15

Our preference:

Long positions above 162.15 with targets at 162.55 & 162.70 in extension.

Alternative scenario:

Below 162.15 look for further downside with 162.00 & 161.85 as targets.

Comment:

Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Trade

EUR/USD intraday: towards 1.1405.

Pivot:

1.1465

Our preference:

Short positions below 1.1465 with targets at 1.1420 & 1.1405 in extension.

Alternative scenario:

Above 1.1465 look for further upside with 1.1480 & 1.1495 as targets.

Comment:

The RSI advocates for further downside.

Trade

Dow Jones (CME)‎ (U6)‎ intraday: aim @ 52460.

Pivot:

52835

Our preference:

Short positions below 52835 with targets at 52580 & 52460 in extension.

Alternative scenario:

Above 52835 look for further upside with 52990 & 53100 as targets.

Comment:

The RSI is bearish and calls for further downside.

Trade

S&P 500 (CME)‎ (U6)‎ intraday: target 7515.

Pivot:

7585

Our preference:

Short positions below 7585 with targets at 7540 & 7515 in extension.

Alternative scenario:

Above 7585 look for further upside with 7610 & 7630 as targets.

Comment:

A break below 7540 would trigger a drop towards 7515.

Trade

GBP/USD intraday: the downside prevails.

Pivot:

1.3510

Our preference:

Short positions below 1.3510 with targets at 1.3445 & 1.3415 in extension.

Alternative scenario:

Above 1.3510 look for further upside with 1.3530 & 1.3555 as targets.

Comment:

The RSI is bearish and calls for further decline.

Trade

Silver intraday: expect 54.40.

Pivot:

56.50

Our preference:

Short positions below 56.50 with targets at 54.40 & 53.80 in extension.

Alternative scenario:

Above 56.50 look for further upside with 57.20 & 57.85 as targets.

Comment:

The RSI is below its neutrality area at 50%

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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