Equities Focus on Key Earnings After Consecutive Rallies

ATFX Market Outlook - 4th August 2026

Equities Focus on Key Earnings After Consecutive Rallies

(By ATFX Analyst Team)

Key Takeaways

On Monday, President Trump said the U.S. and Iran were engaged in negotiations, but Tehran denied this. Despite conflicting statements, U.S. equities continued their strong August start. July manufacturing activity rose to its highest in over four years, boosting the dollar, while gold retreated on dollar strength.

Today’s focus: U.S. June factory orders, forecast to rise 0.2% MoM (prior ‑1.3%), reflecting manufacturing performance. SpaceX will release its first earnings report since its June Nasdaq IPO after market close. AI revenue and capex will be the focal points, serving as a key sentiment driver for tech stocks and the broader market.

Global Market Review

U.S. equities opened August strongly, with the Dow closing at a record high as easing U.S.–Iran tensions drove oil and Treasury yields lower. Dow +1.3%, S&P 500 +1.48%, Nasdaq +2.1%.

Dollar index ended a four‑day losing streak.

Gold slipped 0.3%, weighed by Middle East uncertainty and inflation concerns.

Oil plunged over 7% Monday as expectations for resumed U.S.–Iran talks grew.

Key Events Today:

SpaceX Earnings Report ***

20:30 US Balance of Trade JUN **

22:00 US Factory Orders MoM JUN **

August 5 (GMT+8)

04:30 API Crude Oil Stock Change ***

07:00 AU Services & Composite PMI Final JUL **

07:50 BoJ Monetary Policy Meeting Minutes ***

08:30 JP Services & Composite PMI Final JUL **

09:45 CN Services & Composite PMI Final JUL **

15:55 EU GERMANY Services & Composite PMI Final JUL **

16:00 EU Services & Composite PMI Final JUL **

16:30 GB Services & Composite PMI Final JUL **

17:00 EU PPI JUN **

20:15 US ADP Employment Change JUL ***

21:45 US Services & Composite PMI Final JUL **

22:00 US ISM Services PMI JUL ***

22:30 EIA Crude Oil Stocks Change **

EURUSD

Resistance: 1.1547 / 1.1562

Support: 1.1483 / 1.1463

EUR/USD eased Monday but held above 1.1500. Strong U.S. data and easing geopolitical concerns lifted the dollar, prompting a euro pullback.

Analyst View: Retreat from highs since June 17. As long as above 1.1500, EUR/USD may continue consolidating in the high range.

Bias: High‑level trading

GBPUSD

Resistance: 1.3483 / 1.3516

Support: 1.3382 / 1.3341

GBP/USD halted its rally Monday, retreating from above 1.3500 after weaker UK manufacturing data.

Analyst View: Tested 1.3500 then fell. Short‑term adjustment likely; watch MA support between 1.3400–1.3370.

Bias: Short‑term correction

USDJPY

Resistance: 158.47 / 159.52

Support: 157.41 / 156.37

Yen strengthened to three‑month highs after Tokyo and Washington intervened last week. Bulls cautious under continued intervention risk.

Analyst View: USD/JPY edged higher Tuesday in Asia but lacked follow‑through. Likely consolidating below 158.

Bias: Consolidating downtrend

US Crude Oil Futures (SEP)

Resistance: 83.44 / 87.31

Support: 77.19 / 74.07

Oil fell further Monday after Trump cancelled strikes and claimed talks were underway, though Tehran denied. Prices neared $78.

Analyst View: Oil remains pressured, consolidating near weekly lows. 20‑day MA at $81.55 is key resistance.

Bias: Low‑level consolidation

Spot Gold (XAU/USD)

Resistance: 4087 / 4117

Support: 4014 / 3990

Spot Silver (XAG/USD)

Resistance: 59.02 / 59.74

Support: 56.66 / 55.92

Gold slipped 0.3% Monday on strong U.S. data and a dollar rebound. Silver rose above $58.

Analyst View: Gold remains capped by MA resistance. If below, risk of further decline toward $4,000.

Bias: Weak trading

Dow Jones Futures

Resistance: 53,504 / 53,715

Support: 52,837 / 52,629

U.S. equities rallied Monday on easing tensions. Dow surged over 690 points to a record close.

Analyst View: New highs open further upside. Watch U.S. data for continuation toward 53,504/53,715 resistance.

Bias: High‑level bullish

NASDAQ 100

Resistance: 29,194 / 29,450

Support: 28,351 / 28,091

Tech stocks rallied Monday: Meta +5.97%, Microsoft +4.82%, Google +4.37%. Nasdaq rose ahead of SpaceX earnings.

Analyst View: Broke above 10‑day MA, hovering near 20‑day MA. A break above 28,800 could extend the rally toward 29,000.

Bias: Mildly bullish

Bitcoin (BTC/USD)

Resistance: 64,772 / 65,874

Support: 62,349 / 61,266

Bitcoin held above $63k Monday, tracking global crypto sideways, supported by a $63k floor despite Strategy Inc. sales.

Analyst View: BTC/USD steady, supported at last week’s lows. Trading in a narrow range below MAs.

Bias: Range trading

Enjoy trading! The content is for reference only. Please ensure that you understand the risk.

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