{"id":434640,"date":"2026-07-24T19:16:42","date_gmt":"2026-07-24T12:16:42","guid":{"rendered":"https:\/\/www.swingfish.trade\/blog\/market-news\/the-eurusd-usdjpy-and-gbpusd-are-little-changed-to-start-the-na-trading-session-what-next-434640\/"},"modified":"2026-07-24T19:16:42","modified_gmt":"2026-07-24T12:16:42","slug":"the-eurusd-usdjpy-and-gbpusd-are-little-changed-to-start-the-na-trading-session-what-next","status":"publish","type":"post","link":"https:\/\/www.swingfish.trade\/blog\/market-news\/the-eurusd-usdjpy-and-gbpusd-are-little-changed-to-start-the-na-trading-session-what-next-434640\/","title":{"rendered":"The EURUSD, USDJPY and GBPUSD are little changed to start the NA trading session.  What next?"},"content":{"rendered":"<div>\n<p>The USD is little changed to kickstart the last trading day of the week in the North American session.\u00a0 The three major currency pairs &#8211; the EURUSD, USDJPY and GBPUSD &#8211; are all withing 0.06% of the closing level from yesterday with moves lower generally initially leading to USD buyers. In the video, I take a look at those currency pairs from a technical perspective and outline the bias, the risks and the targets for each.\u00a0 Be aware. Be Prepared.\u00a0 \u00a0Understand the roadmap for your trading.\u00a0<\/p>\n<p>In the markets, US stocks are mixed with the futures implying Dow up 141 points, the S&amp;P unchanged and the Nasdaq -46 points. Intel shares are up after beating expectations and increasing forward guidance.\u00a0 However, they are also well off the highs from soon after the announcement (I saw up over $110). The current price is trading at $103 up about 2.8% on the day.\u00a0\u00a0<\/p>\n<p>Late yesterday, the Trump administration announced a new tariff framework that replaces the temporary 10% universal tariff with a two-tier system covering roughly 60 countries and about 99% of U.S. imports. The new duties take effect at 12:01 a.m. ET Friday.<\/p>\n<ul>\n<li>10% tariff: Countries with laws banning forced labor imports.\n<\/li>\n<li>12.5% tariff: Countries without comparable forced labor laws.\n<\/li>\n<li>\nThe tariffs are being imposed under Section 301 of the Trade Act of 1974, a legal authority viewed as more durable following the Supreme Court&#8217;s earlier ruling against the previous tariff framework.\n<\/li>\n<li>Exemptions include steel, aluminum, autos and auto parts already under separate tariffs, along with certain food, agriculture, fertilizer, energy products, and qualifying USMCA goods.\n<\/li>\n<li>\nThe administration says the policy is designed to combat forced labor, encourage stronger labor standards abroad, and maintain import protections while providing an incentive for countries to qualify for the lower 10% rate.\n<\/li>\n<\/ul>\n<p>Market implications: The tariffs could add modest inflation pressure and raise costs for import-dependent companies, while likely fueling additional trade negotiations and potential legal challenges. Below is an infograph of the changes.\u00a0<\/p>\n<\/p>\n<p class=\"PDq2pG_selectionAnchorContainer\">Middle East tensions escalated further overnight as the U.S. campaign against Iran entered its 13th consecutive night of strikes, with attacks reportedly focused on Iranian military infrastructure tied to missile, drone and maritime operations. Iran has continued retaliatory actions through missile and drone attacks while also backing Houthi operations that have increasingly threatened commercial shipping in the Red Sea. <\/p>\n<p>President Trump issued one of his strongest warnings yet, saying Iran will be financially responsible for damage to ships, cargo and related property. In a Truth Social post, he said any future maritime losses would be covered using Iranian assets frozen and controlled by the United States, declaring that &#8220;any and all damages&#8221; would be paid with Iranian money. The statement appears aimed at deterring further attacks on commercial shipping while increasing economic pressure on Tehran. <\/p>\n<p>The maritime security situation remains a key concern for markets. Iranian-backed Houthi forces attacked two Saudi oil tankers in the Red Sea, prompting fresh disruptions to shipping routes, higher insurance costs and renewed concerns over global energy supplies. Although U.S. officials say key waterways remain open, traders continue to price in the risk of broader regional escalation.<\/p>\n<p>Crude oil is down -$2.25 at $89.95\u00a0after reaching a high of $93.50 yesterday. The high prices today has been at $92.83 the law was at $88.74. The 100 day moving average is currently at $89.91 right here current trading levels. That moving average remains a key barometer for buyers and sellers. The price of crude is up $7.90 for the trading week.\u00a0<\/p>\n<p>US yields are lower to start the trading day but sharply higher for the week:<\/p>\n<ul>\n<li>2 year yield is down -2.9 basis points at 4.330%, but up 15 basis points on the week.<\/li>\n<li>10 year yield is down -1.9 basis points at 4.683%, but still up 13.4 basis points for the week<\/li>\n<li>30 year yield is down -0.9 basis points at 5.16%, but up 9.0 basis points for the week.<\/li>\n<\/ul>\n<\/p>\n<p>                            This article was written by Greg Michalowski at investinglive.com.<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The USD is little changed to kickstart the last trading day of the week in the North American session.\u00a0 The three major currency pairs &#8211; the EURUSD, USDJPY and GBPUSD &#8211; are&hellip;<\/p>\n","protected":false},"author":216,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[86],"tags":[],"class_list":["post-434640","post","type-post","status-publish","format-standard","hentry","category-market-news"],"_links":{"self":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/434640","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/users\/216"}],"replies":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/comments?post=434640"}],"version-history":[{"count":0,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/434640\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/media?parent=434640"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/categories?post=434640"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/tags?post=434640"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}