Russia’s Services PMI, measured by S&P Global, rose to 51.7 in October, improving from 47 in the previous month. This index above 50 signifies expansion in the services sector, suggesting growth in the country’s economy.<\/p>\n
Several financial and market-related developments are discussed. The Pound Sterling is under pressure due to the Bank of England’s outlook on UK demand, while the USD\/INR sees a rise amidst foreign fund outflows from India. Additionally, EUR\/USD experiences fluctuations in a volatile trading week, and gold maintains gains above $4,000 despite increased USD buying activity.<\/p>\n
China’s gold reserves saw a marginal increase to 74.09 million fine troy ounces in October. In other financial market news, expectations are building around a potential Bitwise ETF launch, affecting Dogecoin prices positively.<\/p>\n
Various brokerage information for 2025 is provided, including brokers with low spreads and those favourable for gold trading. Information is intended for educational purposes and carries a risk. Readers are advised to conduct their own research before making investment decisions, as FXStreet holds no responsibility for potential errors or market liabilities.<\/p>\n
With gold pushing past $4,000 an ounce, we see significant safe-haven buying fueled by expectations of a Federal Reserve rate cut. Recent inflation data from October showed Core CPI remaining stubbornly high at 4.5%, increasing fears of stagflation and making gold derivatives attractive. We should consider buying call options or bull call spreads to capitalize on further upward momentum.<\/p>\n
The U.S. dollar is strengthening as traders move away from risk, which we’ve seen pressure the EUR\/USD pair below the 1.1550 mark. This flight to safety is also reflected in equity markets, with the S&P 500 having slid over 3% in late October. Given this trend, we believe shorting euro futures or buying put options on the EUR\/USD could be a prudent strategy.<\/p>\n
We are seeing significant pressure on the British pound after the Bank of England held rates, citing a weak demand outlook for the UK. The latest Q3 GDP figures from last month, showing growth of only 0.1%, support the central bank’s dovish stance. Derivative traders should look at strategies that profit from either a fall in sterling, such as buying puts on GBP\/USD, or from low volatility if the currency settles near the 1.3100 level.<\/p>\n
Russia’s service sector showed a surprising return to expansion, with the PMI jumping to 51.7. This echoes the resilience we observed in its economy back in 2023 and suggests a mispricing of risk related to Russian assets. This unexpected strength could support oil prices, so we should monitor crude oil futures for a potential upside break.<\/p>\n
An event-driven opportunity is forming in the crypto space with the potential launch of a Dogecoin ETF in about three weeks. We saw extreme price swings around the Bitcoin ETF approvals back in 2024, and a similar pattern of high volatility is expected here. Traders could use straddles or strangles on DOGE perpetual swaps or options to play the anticipated price movement without betting on a specific direction.<\/p>\n
Create your live VT Markets account<\/a>\u00a0and\u00a0start trading<\/a>\u00a0now. <\/b><\/p>\n","protected":false},"excerpt":{"rendered":" Russia’s services sector expands; global currencies fluctuate; gold holds strong; crypto sees optimism amid ETF speculation.<\/p>\n","protected":false},"author":5,"featured_media":16980,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[3],"tags":[],"class_list":["post-34308","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\/sv-eu\/wp-json\/wp\/v2\/posts\/34308","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarkets.com\/sv-eu\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarkets.com\/sv-eu\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/sv-eu\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/sv-eu\/wp-json\/wp\/v2\/comments?post=34308"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/sv-eu\/wp-json\/wp\/v2\/posts\/34308\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/sv-eu\/wp-json\/wp\/v2\/media\/16980"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/sv-eu\/wp-json\/wp\/v2\/media?parent=34308"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/sv-eu\/wp-json\/wp\/v2\/categories?post=34308"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/sv-eu\/wp-json\/wp\/v2\/tags?post=34308"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}