(By ATFX Analyst Team)
Key TakeawaysOn Monday, President Trump said the U.S. and Iran are engaged in “good dialogue,” with the possibility of reaching an agreement to end the conflict. Signs of easing tensions sent oil prices sharply lower. U.S. equities were mixed ahead of key tech earnings, the dollar retreated on improved risk appetite, while gold gained. Today, RBA Governor Bullock’s speech will provide insight into the central bank’s next steps, particularly whether it will maintain a cautious stance after pausing rate hikes and highlight inflation uncertainty. Tonight, the U.S. Conference Board Consumer Confidence Index will reveal the true state of U.S. consumers, with July expected to improve further from June. |
Global Market Review 28/07/2026
- U.S. equities closed mixed Monday: Dow +0.5%, S&P 500 +0.02%, Nasdaq ‑0.18%.
- Treasury yields fell, and the dollar weakened against major currencies.
- Gold rose 0.56% to $4,075/oz, supported by easing U.S.–Iran tensions.
- Oil plunged over 9%, closing at its lowest in more than a week, after the U.S. unexpectedly paused airstrikes on Iran.
Key Events Today:
- 11:05 RBA Gov Bullock Speech ***
- 22:00 US CB Consumer Confidence JUL **
- 22:00 US Richmond Fed Manufacturing Index JUL **
July 29 (GMT+8)
Microsoft, Meta Earnings Report ***
- 04:30 API Crude Oil Stock Change ***
- 09:30 AU CPI YoY JUN **
- 20:30 EIA Crude Oil Stocks Chang **
Markets Analysis 28/07/2026
- Resistance: 1.1408 / 1.1422
- Support: 1.1362 / 1.1348
EUR/USD broke above 1.1400 on Monday but retreated, closing lower. Middle East tensions remain in focus, offering temporary support.
Analyst View: After declines, EUR/USD is near last week’s lows. Watch whether support holds between 1.1360 and the 10‑day MA at 1.1400.
Bias: Low‑range consolidation
- Resistance: 1.3350 / 1.3399
- Support: 1.3251 / 1.3203
Sterling rose then fell on Monday, breaking below 1.3300 for the first time since early July, hitting monthly lows.
Analyst View: A break below 1.3300 expands the downside channel. Bears may target 1.3250; a break would open late‑June lows.
Bias: Pressured
- Resistance: 164.02 / 164.29
- Support: 163.39 / 163.11
USD/JPY hovered near 40‑year highs but below 164.00. Traders await Fed and BoJ meetings for guidance.
Analyst View: Consolidating in a narrow high‑level range. Key resistance above 164; support near 163.10 (10‑day MA).
Bias: Range trading
- Resistance: 87.22 / 90.38
- Support: 77.14 / 74.03
Oil extended Friday’s retreat, plunging to its largest single‑day drop in nearly two months as U.S.–Iran paused strikes, easing supply fears.
Analyst View: Fell below 10‑day MA, now resistance at $84.14. Bears may push toward support below $80.
Bias: Pressured
- Resistance: 4104 / 4142
- Support: 4043 / 4012
- Resistance: 59.02 / 59.75
- Support: 55.92 / 55.34
Gold and silver rose Monday as easing U.S.–Iran tensions reduced inflation fears and tempered Fed hike expectations.
Analyst View: Gold retested 10‑day MA support Tuesday. A break lower risks $4,000; holding support could retest resistance above $4,100.
Bias: Weak rebound
- Resistance: 52,533 / 52,823
- Support: 51,830 / 51,600
U.S. equities mixed Monday. Dow rebounded over 260 points as risk appetite improved on easing tensions, ahead of the Fed decision.
Analyst View: Dow consolidated near 10‑day MA after gains. May attempt another rebound, but momentum looks mild.
Bias: Mild rebound
- Resistance: 28,229 / 28,372
- Support: 27,746 / 27,632
Nasdaq fell Monday despite improved sentiment, as semiconductor stocks weakened. Tech majors traded mixed ahead of earnings.
Analyst View: Nasdaq hit its lowest since early May, holding near 28,000 support. Watch for rebound potential if sentiment improves.
Bias: Low‑level consolidation
- Resistance: 64,735 / 65,831
- Support: 62,325 / 61,248
Bitcoin fell to its lowest in 11 days on Tuesday, pressured by rate hike fears. Heavy ETF outflows last week underscored a fragile recovery.
Analyst View: Failed to extend gains, breaking below 10‑and 20‑day MAs. Bears may push toward $62,000.
Bias: Pressured
Enjoy trading! The content is for reference only. Please ensure that you understand the risk.
