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Daily market news

forex Forex
17:00 - 17.07.2026
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EUR/GBP Price Forecast: RSI flirts with oversold territory as bears defend key resistance

EUR/GBP edges higher on Friday, extending gains for a second consecutive day as traders cover short positions following the midweek sell-off. At the time of writing, the cross trades around 0.8501 but is still on track for a fourth straight weekly loss.

forex Forex
14:00 - 17.07.2026
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EUR/USD Price Forecast: Sideways trading extends with 1.1480 holding bulls

The Euro (EUR) records mild losses against the US Dollar (USD) for the second consecutive day on Friday. The EUR/USD pair trades at 1,1430 after being capped at 1.1480 earlier this week, extending the sideways trend, as geopolitical tensions and higher oil prices keep Euro rallies subdued.

commodities Commodities
13:00 - 17.07.2026
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Gold Price Forecast: XAU/USD hovers below $4,000 with the YTD low at hand

Gold (XAU/USD) shows moderate gains on Friday, but remains close to the year-to-date lows, at the $3,940 area, with upside attempts capped below the $4,000 psychological level for now.

indices Indices
12:24 - 17.07.2026
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kelvin_wong
Kelvin Wong

Chart alert: Nasdaq 100 at risk of triggering a multi-week corrective decline leg

The Nasdaq 100 is showing signs of increasing technical and fundamental weakness as AI infrastructure stocks lose momentum and semiconductor volatility accelerates. Leveraged unwinding in memory-chip leaders, concerns over rising capital expenditure, and delayed AI monetisation are weighing on valuations. Discover why the 28,200 support level is a critical technical trigger and how semiconductor weakness could drive a broader multi-week correction in US technology stocks.

forex Forex
11:00 - 17.07.2026
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USD/CAD Price Forecast: More downside likely towards 1.3970

The USD/CAD pair trades marginally lower at around 1.4033 during the European trading session on Friday. The Loonie pair edges down as the Canadian Dollar (CAD) outperforms its major currency peers amid fears that oil prices could accelerate further.

forex Forex
09:00 - 17.07.2026
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AUD/USD Price Forecast: More upside likely amid stabilization above 20-day EMA

The Australian Dollar (AUD) trades marginally lower against the US Dollar (USD) at around 0.6990 during the European trading session on Friday. The Aussie pair edges down as the US Dollar ticks higher amid fears that the United States (US) inflation could re-accelerate after slowing down in June.

forex Forex
08:00 - 17.07.2026
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EUR/USD Price Forecast: Stays pressured below mid-1.1400s after failing near 200-SMA on H4

The EUR/USD pair ticks lower for the second straight day on Friday as energy-driven inflation fears revive US Federal Reserve (Fed) rate hike bets and support the US Dollar (USD) amid escalating US-Iran tensions.

forex Forex
07:00 - 17.07.2026
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Forex Today: US Dollar rebounds as US-Iran tensions flare up

Here is what you need to know on Friday, July 17:

forex Forex
06:00 - 17.07.2026
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EUR/JPY Price Forecast: Remains below ascending triangle top near 186.00

EUR/JPY extends its losses for the second consecutive day, trading around 185.70 during the Asian hours on Friday. The currency cross is holding above both the nine-period and 50-period Exponential Moving Averages (EMAs), which reinforces a constructive near-term bias.

04:00 - 17.07.2026
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WTI extends range play around $79.00; bullish potential intact amid Mideast tensions

West Texas Intermediate (WTI) – the benchmark US crude oil price – edges higher during the Asian session on Friday, though it remains confined within a multi-day-old range.

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Gold price oscillates in a range near one-week peak, positive risk tone caps gains

Gold price (XAU/USD) registered strong gains of over 1% on Monday and settled above the mid-$1,800 in the wake of the escalating Israeli-Palestinian conflict. The safe-haven precious metal, which tends to benefit from political and economic turmoil, further benefits from the ongoing retracement slide in the US Treasury bond yields, led by reduced bets for further rate hikes by the Federal Reserve (Fed). This, along with subdued US Dollar (USD) price action, pushes the non-yielding yellow metal higher for the third successive day on Tuesday, to over a one-week high.

Gold price has now recovered over $50 from a seven-month low touched last Friday, though seems to struggle to capitalize on the momentum. The overnight dovish remarks by Fed officials boost investors' confidence, which is evident from a generally positive tone around the equity markets and caps gains for the safe-haven XAU/USD. Investors also seem reluctant and prefer to wait on the sidelines ahead of this week's key releases from the United States (US) – the FOMC meeting minutes on Wednesday and the consumer inflation figures on Thursday.

Daily Digest Market Movers: Gold price consolidates its recent gains to over a one-week high

  • Military conflict between Israeli forces and Palestinian Islamist group Hamas continues to drive some haven flows, lifting the Gold price to over a one-week high on Tuesday.
  • Fed officials struck a cautious tone about the need for further rate hikes and said that the recent rise in the long-term US Treasury bond yields would help the Fed in its battle against inflation.
  • Dallas Fed President Lorie Logan noted that the progress on inflation is encouraging and forced investors to trim their bets for another interest rate increase at the November meeting.
  • Fed Vice Chair Philip Jefferson also sounded less hawkish and suggested the central bank proceed carefully with any further increases in the benchmark federal funds rate.
  • The repricing of the Fed's rate-hike path leads to a further decline in the US Treasury bond yields, which keeps the US Dollar bulls on the defensive and further benefits the XAU/USD.
  • The markets, however, are still pricing in the possibility of at least one more Fed rate hike by the end of this year, which should limit the downside for the US bond yields and the USD.
  • Investors now look to the FOMC meeting minutes and the US consumer inflation figures, due on Wednesday and Thursday, respectively, for cues about the Fed's next policy move.

Technical Analysis: Gold price continues with its struggle to build on the Middle East conflict-inspired gains

From a technical perspective, some follow-through buying beyond the $1,865 level should pave the way for additional gains, towards the next relevant hurdle near the $1,885 area. This is closely followed by the $1,900 round figure, which nears the 50-day Simple Moving Average (SMA) and should now act as a key pivotal point. A sustained strength beyond will suggest that the Gold price has formed a near-term bottom and pave the way for additional gains towards testing the 200-day SMA, currently pegged near the $1,928-1,930 region.

On the flip side, any meaningful decline might now find some support near the $1,855-$1,850 zone ahead of the $1,835-1,834 region. A convincing break below the latter will suggest that the corrective bounce has run its course and drag the Gold price to the $1,820 support en route to the multi-month low, around the $1,810 zone. Furthermore, the occurrence of a death cross on the daily chart, wherein the 50-day SMA is holding well below the 200-day SMA, warrants caution for bullish traders and before positioning for further gains.

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