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Forex Market Snapshot
The dollar is traded mixed with AUD (higher metals prices) and NZD (hotter CPI) outperforming at the expnse of the JPY, with USDJPY inching closer but still below its 162.84 40-year high. GBP has eased vs. the EUR with EURGBP trading back aboive .8500 as the new UK govt takes over.
Key movers have been Gold and Bitcoin while crude oil has so far shown little response to another day of US-Iran hostilties but bears watching. US stocks are firmer as well.but consolidating.
‘Newsquawk Week Ahead Highlights (20-24th July 2026)
Newsquawk Week In Focus (20-24th July 2026): Highlights include Japanese, UK, Canadian and NZ inflation reports, ECB, Global Flash PMIs, Aussie and UK jobs
US is imposing additional 50% tariff on certain products of Canada including some USMCA products, to counter Canadian bias against US commerce with respect to alcoholic beverages, dairy, motor vehicles
Additional duties take effect at 00:01EDT/05:01BST on 19th August 2026.
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USDCAD 4 HOUR – Spikles higher on tariff news
Market Update: Stocks turn defensive
Stocks turn defensive after earlier attempts to regain US500 7500 and NAS100 29K failed.
Hope for a ceasefire crowd facing a reality check with headlines like this one
On potential ceasefire talks with Iran, US officials say “Right now, President Trump is focused on making Iran pay for their violations of the MOU and their continued acts of terrorism in the Strait of Hormuz.”, according to Axios’ Ravid (Newsquawk)
US500 NAS100
Market Update: XAUUSD vs. BTCUSD
BTCUSD trying for a breakout while XAUUSD still unable to shaje a focus from 4000,
XAUUSD: Double top at 4040 keeps focus on 4000 although currently above it despite US bond yields ticking up.
BTCUSD tested the top of its 65539 range (high 65584), which needs to see a firm break for a breakout.
If not, then dependent on 63690 and the 4 hour trendline holding to keep the focus on the upside.
XAUUSD BTCUSD
Market Update: Indices
US stocks agaun seem to be betting on hope even as Middle East hostilties intensify.
NAS100 leading the bounce in stocks but would at least need to regain 29K to give it a better bid.
Same goes for US500 7500, which is being pivoited.
Note, while this is a CFD chart, the Power of “50” levels held today (US500 7450 and NAS100 just above 28500), which were followed by the moves up.
US500 NAS100
XAUUSD DAILY
Still unable to shake a focus from 4000, which has traded 5 out of the past 6 days and the level that will ultimately dictate whether the low is in or there is more to go on the downsidee.
Broad 3-week range is at 3942-4220 (high set 4 weeks ago)
Hope for battered bulls side as long as the 3942 low holds.
\Market Update
bruSD (Brent) retreat has filled the opening gap after a tepid test above 90-90.00 (on this CFD chartr)
EURUSD in a tight range upside so far cooled by another pause aroiund 1.1350 but downside cdonbtained unless 1.1400 cracks. ]
US500 bounce would need to regaiun 7500 to neutralize the3 downswide threat. Note bounce after downside so far found support at the “50” level (7450)
EURUSD US500 XBRUSD
Forex Market Snapshot
The dollar is trading close to unchanged exdcewpt vs a firm,er AUDUSD and NZDUSD) on China stimulus hopes and after an opening week gap up in crude opil faling to follow through and has since retreated. This comes despite increased US-Iran attacks and concerns that they could escalate further.
So in a 1 + 1 doesn’t equial 2 start to the week markets are taking their cues from the oil market.
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