Looks like a classic case of Peach Leaf Curl disease. This is  a fungal infection encouraged by wet weather. There are some varieties of peach trees that are more resistant than others to this disease. Control involves spraying with a fungicide several times a year and collecting all infected foliage or cutting back really infected branches. Follow the  spraying instructions on the fungicide spray. A more practical approach may be not to grow peach trees in your area. Keep growing, Marianne Binetti