Market News

GBPUSD sellers have seized control, pushing the pair below last week's low and to its weakest level since July 2. Last week's low at 1.3299 was an important technical level, aligning with the 61.8% retracement of the rally from the June 23 low to the July high.

Buyers initially tried to defend that support, sparking a modest rebound toward 1.3313, but the recovery quickly stalled. Once the price broke below 1.3299, downside momentum accelerated, sending the pair to a session low of 1.3283.

The next downside target comes in at 1.3261. A break below that level would shift the focus toward the July 1 low near 1.3218, opening the door for a deeper retracement of July's advance.

The pair peaked on July 15, and with four trading days remaining in…

The AI and semiconductor sector was one of the market's weakest areas today as investors locked in profits ahead of another key week of earnings. Selling was widespread across chip designers, equipment makers, memory producers, and AI infrastructure stocks, reflecting a combination of stretched valuations, elevated expectations, and sector rotation rather than company-specific news.Some of the losers today include: 

• SanDisk (SNDK) is down $179.36 or -12.49%
• Coherent (COHR) is down $24.04 or -8.51%
• Advanced Micro Devices (AMD) is down $42.44 or -8.13%
• Lumentum Holdings (LITE) is down $60.65 or -7.95%
• Lam Research (LRCX) is down $22.86 or -7.49%
• ASML Holding (ASML) is down $127.44 or -7.25%
• Astera Labs (ALAB) is down $18.06 or -6.19%
• Applied…

• High yield 4.408%
• WI level at the time of the auction 4.399%
• Tail +0.9 basis points vs Six-month average of 0.6 basis points
• Bid to cover 2.28X vs average 2.33X
• Directs 27.22% versus average of 21.4%
• Indirects 59.25% versus average of 65.6%
• Dealers 13.53% versus average of 12.9%

AUCTION GRADE D+

Tail below average, Bid to cover below average. Directs above average, Indirects below average.  Dealers above average (negative).  If I grade easy it is a C-, but not today. It is a D+

Trump to reporters:

• On Iran, I have plenty of time.
• Were talking with Iran right now.
• Good chance something will happen.
• We have a lot of ammunition. I would like to have more
• On Israel, we are pretty close when it comes to Iran
• On Ukraine war, will find out about Russia's actions.
• Will asked Russia's Putin event satellite imagery to Iran.
• Does not think Russia has been sending images to Iran.
• On the Fed, Warsh has to deal with board.
• Rates should be lower.
• We should ahve the world's lowest interest rates

• Pakistani intelligence officials in a news report is saying that they believe the U.S. could be preparing a limited ground offensive in Iran.
• The reported objective would be to cut off Iran's coastal region before any broader peace agreement is finalized.
• Officials pointed to U.S. troop deployments, military movements, and increasingly forceful rhetoric as signs supporting their assessment.
• The report says the possibility remains despite domestic political pressure and warnings from some U.S. military leaders about the risks of a ground campaign.
• Military analysts continue to view a U.S. ground invasion of Iran as high risk, citing Iran's large military, extensive missile arsenal, and drone capabilities.

The same Pakistani officials…

The AUDUSD and NZDUSD both pushed higher during the Asian session but have since reversed lower as U.S. Treasury yields trimmed earlier declines and U.S. equities slipped into negative territory. The S&P 500 is down 0.22% while the NASDAQ is lower by 0.48%. Meanwhile, the 2-year Treasury yield is down 1.9 basis points, after being lower by more than 3 basis points earlier in the day. The reversal in yields and risk sentiment has taken some of the wind out of the commodity currencies.

• AUDUSD: The AUDUSD climbed back above both its 100-hour and 200-hour moving averages in the early Asian Pacific session, currently clustered near 0.6992, and reached a session high of 0.7011. However, the rally stalled at a key swing area and remained below…

US treasury sells $16 billion of two-year notes at a high yield of 4.315%

• High yield 4.315%
• WI level at the time of the auction 4.320%
• Tail -0.5 basis points vs average of 0.1 bps
• Bid to cover 2.66X vs average of 2.63X
• Directs 34.05% versus average of 29.2%
• Indirects 56.59% versus average of 58.2%
• Dealers 9.36% versus average of 12.6%

AUCTION GRADE: B+

Solid auction with a negative tail, directs higher. Indirect modestly below the average. Dealers are saddled with less than average

N12 News is reporting on comments from Pres. Trump:

• We are having deep talks with Iran.
• I am not going to take much time to negotiate, either it will move quickly or won't happen at all.
• we will go back to very powerful military action if talks are not successful.
• Everyone involved in negotiations with Iran has asked me don't shoot emphasizing that he believes the Iranians want to reach a deal.
• There is nothing to gain and nothing to lose.
• Says that since he pauses the Straits, oil prices have fallen and stock markets have risen.

The Dow industrial average is up 300 points or 0.57%. The S&P index is up modestly by 0.10% and the NASDAQ is down modestly by -0.06% in what has been volatile up and down trading today.

Technically, looking at the…

The USDCAD is modestly higher on the day after sellers failed to extend the downside following an early break lower. The pair opened on the defensive and slipped below its rising 100-hour moving average (currently at 1.40874), but bearish momentum quickly stalled ahead of the 200-hour moving average at 1.4064. The decline reached a low of 1.4071—just above that key support—before buyers stepped back in and drove the pair higher.

That rebound has now lifted the USDCAD to 1.4112, putting the pair within just 4 pips of last week's high at 1.41166. That level is technically significant because it also aligns with the July 10 swing low, meaning what had previously acted as support has now turned into resistance. If buyers are to strengthen the…

The US economic calendar of releases is done for the day after the weaker than expected durable goods orders. However, there will be not one but 2 coupon auctions today. Normally the US treasury auctions off its coupon issues on to say Wednesday and Thursday. However, because of the Federal Reserve interest rate decision on Wednesday, they will frontload the auctions starting today. Below is a detailed looking at the auctions this week:

U.S. Treasury Auction Calendar (Week of July 27, 2026)

Monday, July 27

• 11:30 a.m ET – $69 billion 2-year note auction
• 1:00 p.m. ET – $70 billion 5-year note auction

Tuesday, July 28

• 1:00 p.m. ET – $44 billion 7-year note auction

The Fed decision will be on Wednesday followed by the press conference with Fed…

The major U.S. stock indices are trading higher, with investors encouraged by a combination of easing geopolitical tensions, sharply lower oil prices, and hopes that the recent flare-up in the Middle East may be giving way to renewed diplomacy. The Dow Jones Industrial Average leads the gains, up 1.23%, while the NASDAQ is higher by roughly 242 points, or 0.95%, after being up more than 300 points in premarket trading. The S&P 500 is up 0.81%.

One of the biggest catalysts today has been the sharp decline in crude oil. WTI crude is down more than $5.40 a barrel, extending its retreat as traders unwind the geopolitical risk premium that had been built into prices over the past two weeks. Reports suggesting a pause in U.S. military…

The USDCHF moved higher last week, testing a topside trendline connecting the series of lower highs dating back to July 1 on the hourly chart (see red numbered circles on the chart below). The pair stalled against that trendline on both Thursday and Friday, leaving traders with a key question heading into the new week: Would buyers finally force a breakout, or would sellers regain control?

The answer initially came during the Asian session, when the pair gapped lower and fell back below the 0.8170 level. As highlighted in last week's videos, the 0.8170–0.8214 zone represents an important resistance area from the 2025 daily chart (see the daily chart below - top yellow area). Selers moving below that level tilted the bias lower. 

The decline…