(By ATFX Analyst Team)
Key TakeawaysYemen’s Houthi rebels announced a maritime blockade against Saudi Arabia, while markets watch for possible U.S.–Iran negotiations. U.S. equities extended declines Monday, the dollar rebounded, gold stayed under pressure, and oil edged higher. Today’s focus is UK employment data; with May three-month ILO unemployment expected at 5% (prior 4.9%). A rise would heighten concern over the economic outlook. Prime Minister Burnham may also announce short-term measures today. Eurozone July ZEW Economic Sentiment Index is expected to improve. |
Global Market Review 21/07/2026
- U.S. equities closed lower Monday: Dow -0.59%, S&P 500 -0.19%, Nasdaq -0.05%.
- Treasury yields rose, and the dollar index gained 0.18% to 100.92.
- Gold fell 3% as U.S.–Iran conflict escalated and energy prices surged, adding pressure to the metal.
- Oil extended modest gains as markets assessed the Houthi blockade announcement and supply risks.
Key Events Today:
- 14:00 GB Unemployment Rate MAY **
- 17:00 EU ZEW Economic Sentiment Index JUL **
July 22 (GMT+8)
NYMEX August crude contract expiry
- 04:30 API Crude Oil Stock Change ***
- 14:00 GB CPI & PPI YoY JUN ***
- 22:30 EIA Crude Oil Stocks Change **
Markets Analysis 21/07/2026
- Resistance: 1.1437 / 1.1448
- Support: 1.1380 / 1.1363
EUR/USD fell toward 1.1400 Monday as the dollar strengthened and Middle East tensions escalated.
Analyst View: After three days of declines, the pair is hovering at the 20-day MA. A break lower would target last week’s lows and support below 1.1380, reinforcing the short-term pressured bias.
Bias: Short‑term pressured
- Resistance: 1.3460 / 1.3510
- Support: 1.3399 / 1.3349
Sterling rose then fell Monday. New PM Burnham pledged to announce short-term measures Tuesday to ease household burdens. Focus remains on UK employment data.
Analyst View: Holding above the 10-day MA for now. Watch whether today’s drivers push GBP/USD below 1.3400 or support a rebound, keeping the short-term pressured bias intact.
Bias: Short‑term pressured
- Resistance: 162.71 / 162.87
- Support: 162.33 / 162.17
USD/JPY consolidated near 162 Monday, close to 40‑year highs, with traders wary of possible intervention.
Analyst View: Hovering near 162.00. Staying above the 10-day MA is key for bulls to maintain control, supporting the high-level consolidation bias.
Bias: High‑level consolidation
- Resistance: 83.69 / 85.00
- Support: 80.76 / 79.43
Oil accelerated Monday, hitting one-month highs as U.S. strikes on Iran and the Houthi blockade raised supply risks. Hopes for renewed U.S.–Iran talks capped gains.
Analyst View: Volatility increased Monday, with signs of slowing momentum. Watch for a pullback toward $80 or fresh headlines to drive further moves, leaving the neutral consolidation bias unchanged.
Bias: Neutral consolidation
- Resistance: 4073 / 4104
- Support: 3981 / 3942
- Resistance: 58.51 / 59.42
- Support: 55.59 / 54.70
Gold fell near $4,000 on Monday as geopolitical uncertainty and higher energy prices lifted rate expectations.
Analyst View: Gold recovered some losses but remains capped by daily MAs. Potential to retest resistance, but failure could send prices back toward $4,000, in line with the mild rebound bias.
Bias: Mild rebound
- Resistance: 52,304 / 52,539
- Support: 51,601 / 51,306
U.S. equities fell Monday as geopolitical risks and caution ahead of tech earnings weighed. Dow dropped for a third day, hitting three-week lows.
Analyst View: Rejected at daily MAs, accelerating lower. Watch for tests of 51,600 and below, keeping the short-term pressured bias aligned.
Bias: Short‑term pressured
- Resistance: 28,856 / 28,993
- Support: 28,402 / 28,225
Tech stocks closed mixed Monday. The semiconductor index spiked then retreated. Nasdaq opened higher but closed lower as markets awaited earnings.
Analyst View: Nasdaq lifted off early June lows but needs to break above 29,000 to sustain rebound momentum. Otherwise, risk of range trading persists, supporting the short-term pressured bias.
Bias: Short‑term pressured
- Resistance: 66,485 / 67,425
- Support: 64,417 / 63,508
Bitcoin rose above $65,000 Monday after weekend stagnation, supported by technical rebounds despite cautious sentiment from U.S.–Iran tensions and rising rates.
Analyst View: BTC/USD found support at key MAs, rebounding to mid-June highs. Short-term rebound may continue, but resistance above $67,000 could cap gains, fitting the mild rebound bias.
Bias: Mild rebound
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