Market News

Pres. Trump is on TruthSocial saying: 

"The European Union is at it again and, as usual, taking direct aim at GREAT American Companies! After having fined Apple, for no reason at all, 15 Billion Dollars, Meta, 3 Billion Dollars, Amazon 2.5 Billion Dollars, and many others, we have just been informed that Google, a truly advanced and amazing group, has been fined yet another 1 Billion Dollars, without explanation. This brings the Google total to over 18 Billion Dollars! This illegal and highly discriminatory practice started at these high levels during the first year of the Sleepy Joe Biden Administration, but it’s not going to continue during the Trump Administration. The United States of America is not a “PIGGYBANK” for Europe, nor will…

The AUDUSD has spent the past eight trading days trapped in a relatively tight range between 0.6961 and 0.7026, with little sign of sustained directional conviction. Right in the middle of that range sit the 100-hour and 200-hour moving averages, currently at 0.6991 and 0.6994. If price action remains contained, those two averages will converge even further over the next few hours. When the 100- and 200-hour moving averages come together, they typically reflect a market lacking a clear trend—and that has been the story for the past week and a half.

The encouraging part is that non-trending markets eventually transition into trending markets. The AUDUSD may be stuck in the mud for now, but periods of consolidation often lead to meaningful…

The United States and the United Kingdom are planning a high-level conference in London next week to discuss forming an international coalition to protect commercial shipping through the Strait of Hormuz, according to Axios.

The meeting could bring together defense ministers and senior military leaders from Western and regional countries, with U.S. Defense Secretary Pete Hegseth and Joint Chiefs Chairman Gen. Dan Caine among the potential attendees. The initiative is viewed as a key part of Washington's strategy for eventually winding down its conflict with Iran while helping restore stability to global energy markets.

This The U.S. is reportedly encouraging allies to contribute naval vessels, mine-clearing ships and surveillance drones…

European equities finished Friday on a strong note, with broad-based gains across the major indices as traders headed into the weekend. Sentiment was boosted by a better-than-expected round of S&P Global flash PMI data, which pointed to improving business activity across much of Europe. Germany led the way, with manufacturing accelerating to 52.2 from an expected 50.4, while services also edged higher to 49.6. Across the eurozone, manufacturing rose to 52.0 (vs. 51.5 expected) and services climbed to 51.6 (vs. 49.8 expected), signaling a broader pickup in economic momentum. The UK also surprised to the upside, with manufacturing at 52.8 and services at 51.8, both beating forecasts. France was the lone soft spot, where manufacturing…

Reuters, citing sources, reports that Pakistan is attempting to revive a path toward renewed U.S.-Iran talks aimed at ending the conflict. Markets have seen similar headlines before, but the report has nevertheless helped improve risk sentiment.

U.S. stocks have moved higher on the news. The Dow Jones Industrial Average is up about 350 points (+0.67%) at 52,063, the S&P 500 has gained 39 points (+0.52%) to 7,447.13, while the Nasdaq has recovered from a session low of -219.60 points and is now fluctuating around unchanged near 25,139.

Crude oil has also extended its decline, trading at $88.25, down nearly $4.00 on the day. From a technical perspective, the next key support zone comes in between $86.66 and $87.07. The $87.07 level marks the…

Trump is posting on TruthSocial:

There has been some speculation that the success of the Iranian missiles at targeting bases and such, as well aa the supply given the annihilation of there defense, suggests some nafarious help from the likes of China and Russia. 

I do not know but Trump gives both leaders the benefit of the doubt. 

What do you think?

The price of gold traded at its low for the week on Monday, but sellers could not sustain the downside momentum. The bearish bias began to deteriorate as the price moved back above its 100-hour moving average, a downward-sloping trendline, and its 200-hour moving average. Holding those levels as support during Tuesday's trade gave buyers the confidence to extend higher, with the price reaching its high for the week at $4,166 on Wednesday. However, that rally stalled below the key July swing highs at $4,180 and $4,203, allowing sellers to regain control.

The price then rotated lower, breaking back below both the 100-hour moving average (near $4,072) and the 200-hour moving average (near $4,047) on Thursday. However, the decline found…

The USDCAD found a bottom on Monday, just above Friday's low and key psychological support at 1.4000. The low reached 1.4003, attracting buyers who pushed the pair back above the falling 100-hour moving average. The rally extended into Tuesday, initially stalling ahead of the 200-hour moving average before buyers gained enough momentum later in the day to break above it. That move carried the pair toward the July 10 swing low at 1.4116, where the advance began to lose steam.

From there, the pair has been on a bit of a roller coaster. A corrective pullback brought the price back toward the 100- and 200-hour moving averages, but buyers stepped in and defended those levels on Thursday. Today, the pair briefly slipped below the 100-hour moving…

Israel PMs office is reporting that Israeli Prime Minister Netanyahu will be traveling to Washington to meet with Pres. Trump on Tuesday. Israel has recently been saying that they would not be an aggressor in the US Iranian war.

President Trump has continued to strongly back Israel and Prime Minister Benjamin Netanyahu, reaffirming the close U.S.-Israel alliance while signaling that the United States is prepared to take an even tougher stance against Iran if necessary. He recently said he is "close to making a decision" on potential military action against Iran larger than previous operations and indicated Israel would quickly participate if asked, though the U.S. could also act independently. At the same time, Trump has reportedly…

• Prior month 0.618M revised higher from 0.580M previously reported.
• New-home sales for June 0.628M vs 0.610M estimate
• New-home sales percentage change 1.6% versus -4.3% last month

Details on Inventories and Prices

• Inventory was down 0.2% from May (486,000)
• Inventory was down 3.2% from June 2025 (501,000)
• Months' supply:9.3 months
• Supply was down slightly from 9.4 months in May
• Supply was up from 9.0 months a year ago, indicating inventory remains relatively elevated

Sales Prices

• Median sales price:$398,300
  • Down 3.3% from May ($412,000)
  • Down 2.7% from June 2025 ($409,200)
• Average sales price:$475,400
  • Down 9.5% from May ($525,200)
  • Down 6.5% from June 2025 ($508,700)
• Both median and average prices declined on both a monthly and annual basis,…

• Prior month manufacturing PMI 53.9
• Prior month services PMI 51.2.
• Prior month composite PMI 51.9
• Flash manufacturing PMI for July 53.8 versus 54.3 expected. This is a 4-month low but remains above the 50 level. 
• Flash services PMI for July 53.6 versus 51.5 expected. Strongest since November 2025
• Flash composite PMI for July 53.6 versus 51.9 last month. Strongest since November 2025

Chris Williamson, Chief Business Economist at S&P Global Market Intelligence:

“US businesses reported a good start to the third quarter, the ‘flash’ PMI survey data broadly consistent with GDP growing at an annualized 2.0% against a 1.2% pace signalled for the second quarter. The month saw an encouraging return to hiring by companies, with employment rising for the…

The USDCHF has been grinding steadily higher throughout July, adding another modest gain today. The pair is up about 0.21% after recovering from an early European-session dip, with the rebound lifting the price to fresh 2026 highs and its highest level since June 2025. The session high reached 0.8184 so far.

That advance has carried the pair into an important resistance zone defined by swing highs from June and August 2025 between 0.8170 and 0.8214 (see yellow area on the daily chart above). Also within that zone sits the 38.2% retracement of the decline from the January 2025 high to the January 2026 low, which comes in at 0.82116. Buyers are now testing this cluster of technical resistance. A sustained move above 0.8214 would strengthen…