The United States Baker Hughes oil rig count dropped to 410 from a previous count of 415. This decline highlights changes in the oil industry landscape.<\/p>\n
Following weak US employment data and manufacturing PMI, EUR\/USD climbed above 1.1550. The US Dollar faced pressure, aiding several currencies to gain ground.<\/p>\n
GBP\/USD rose above 1.3250, reversing a six-day loss streak, as poor US job numbers diminished the Dollar\u2019s strength. Meanwhile, gold reached around $3,350, reacting to falling US Treasury yields.<\/p>\n
Cryptocurrencies experienced challenges despite a robust July, with Bitcoin falling below $115,000. Concerns linger over support levels amidst increasing liquidations.<\/p>\n
The euro area displayed resilience, buoyed by the EU-US agreement and Germany\u2019s fiscal plans. There remains uncertainty about future economic indicators possibly prompting policy adjustments. <\/p>\n
Various brokers offer trading opportunities, with features like competitive spreads and fast executions. This provides options for traders at all levels to engage in the Forex market effectively.<\/p>\n
Based on the weak US jobs and manufacturing data, we see continued pressure on the US Dollar. The July 2025 non-farm payrolls report showed an addition of only 85,000 jobs, falling far short of the 190,000 consensus estimate and confirming a cooling economy. We believe that shorting US Dollar Index futures or buying put options on the dollar presents a clear opportunity in the coming weeks.<\/p>\n
We are positioning for further strength in the euro and the pound against the dollar. With EUR\/USD breaking the key 1.1550 level and the latest Eurozone CPI data for July 2025 coming in slightly hot at 2.4%, the European Central Bank may be slower to cut rates than the US Federal Reserve. Buying call options on EUR\/USD and GBP\/USD could capture this upward momentum.<\/p>\n
The flight to safety is evident as gold soars past $3,350 an ounce. This move is fueled by the US 10-year Treasury yield dropping below 3.50%, a low not seen since early 2024, which makes non-yielding gold more attractive. We are looking at buying gold futures, recalling the significant rallies in similar low-yield environments, such as the one following the 2020 global pandemic response.<\/p>\n
The drop in the US oil rig count to 410 suggests a future tightening of supply. However, this is countered by fears of weakening demand, which was supported by the latest Energy Information Administration (EIA) report showing a surprise build in crude inventories of 2.1 million barrels. This conflict between supply and demand indicators suggests high volatility, making strategies like options strangles on WTI crude futures appealing.<\/p>\n
Cryptocurrencies are showing signs of exhaustion after a strong July. With Bitcoin dipping below $115,000 and open interest showing a bias towards short positions, we anticipate further consolidation or a deeper correction. We are considering buying put options on Bitcoin to hedge against a potential drop towards the $100,000 psychological support level.<\/p>\n
Create your live VT Markets account<\/a>\u00a0and\u00a0start trading<\/a>\u00a0now. <\/b><\/p>\n","protected":false},"excerpt":{"rendered":" Oil rig count drops; weak US data boosts EUR\/USD and GBP\/USD; gold rises, crypto sees pullback.<\/p>\n","protected":false},"author":62,"featured_media":17027,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[59],"tags":[],"class_list":["post-27991","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-live-updates"],"acf":{"acf_article_selection_author":null},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.vtmarkets.com\/en-asia\/wp-json\/wp\/v2\/posts\/27991","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarkets.com\/en-asia\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarkets.com\/en-asia\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-asia\/wp-json\/wp\/v2\/users\/62"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-asia\/wp-json\/wp\/v2\/comments?post=27991"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/en-asia\/wp-json\/wp\/v2\/posts\/27991\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-asia\/wp-json\/wp\/v2\/media\/17027"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/en-asia\/wp-json\/wp\/v2\/media?parent=27991"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-asia\/wp-json\/wp\/v2\/categories?post=27991"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-asia\/wp-json\/wp\/v2\/tags?post=27991"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}