The Baker Hughes US oil rig count is now at 411, slightly above the expected 410. This article is for information only and is not investment advice. Market movements and asset changes come with risks and uncertainties. Readers should do their own research before making any investment decisions. The EUR/USD currency pair is trading around 1.1650 after a small rebound in the US Dollar. The GBP/USD pair is also doing well near 1.3450, helped by support from the Bank of England’s recent decisions. Gold prices are stabilizing around $3,400 per ounce after a slight drop. This stability is influenced by the US decision to tax certain gold bars. The cryptocurrency market is looking strong, with Bitcoin recently reaching about $118,000 before settling around $116,525. This comes from an overall positive market feeling among both institutional and retail investors. The Bank of England has cut interest rates by 25 basis points to 4%, raising concerns about ongoing inflation. This cut suggests that the current easing phase may soon come to an end. With the Bank of England lowering interest rates to 4%, the situation for the pound is complex. Normally, this would weaken the currency, but the market is reacting to hints that this easing cycle may be ending. This has provided some support for GBP/USD around 1.3450. We might want to use options to trade expected volatility since there’s still uncertainty over whether inflation will force the bank to stay steady or change direction. The US oil rig count of 411 shows a small weekly change but confirms a trend of low drilling activity, especially compared to nearly 500 rigs in early 2024. This ongoing supply tightness has helped keep WTI crude prices above $95 per barrel this summer. This suggests we should remain optimistic, possibly by holding long positions in oil futures or using call options to benefit from price stability. In the currency market, the EUR/USD pair is around 1.1650 as the dollar strengthens. This follows a strong US jobs report for July, adding over 250,000 jobs, which contrasts with the cautious approach of European central banks. This difference suggests that the dollar may continue to strengthen, making short positions on the Euro an appealing strategy. Gold’s stability around $3,400 an ounce is significant, especially with the new US tax on specific gold bars. This tax may increase trading in derivatives, as traders look to use futures and options instead of handling physical gold. With recent Consumer Price Index data showing US inflation steady at 3.5%, there are solid reasons for holding on to gold. In the cryptocurrency space, Bitcoin’s recent dip to around $116,525 seems like a natural pause after reaching nearly $118,000. The positive mood is supported by real investments from institutions, as the Bitcoin spot ETFs approved in 2024 saw strong net inflows in July. This could be a chance to “buy the dip,” possibly by selling put options with strike prices below $110,000 to earn some premiums.

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