What is wrong with my peach tree...
Your tree has the classic fungal disease of peach in the Willamette Valley, Peach Leaf Curl. Below is information on managing the disease, a link to the PNW Disease Management Handbook discussion of this very common problem. Further disease development at this time of the year is limited, as the weather is dry. Fungal diseases are molds, so most of the problem originates in the spring, when rain allows for disease development and spread, so control efforts, especially any sprays, are applied to protect new growth. If the cultivar you have is not resistant this becomes especially important. feel free to write directly with any questions.