In September, Ireland’s Harmonised Index of Consumer Prices (HICP) increased to 2.7% compared to last year’s 1.9%. This change reflects the rising costs of goods and services in Ireland. Globally, there have been notable financial updates. The euro slightly reduced its losses against the Swiss franc after the European Central Bank decided to keep its monetary policy unchanged. On the other hand, the GBP/JPY rate fell after a recent rise, as investors reconsider the outlook for Japanese policy.

Commodities And Cryptocurrencies

In the commodities market, gold remains strong near its all-time highs. Speculation is growing about possible rate cuts from the US Federal Reserve amid a prolonged government shutdown. The EUR/USD is under pressure, trading close to its lows due to the strength of the US dollar. Cryptocurrency markets are facing a downturn, with Bitcoin approaching $121,000 as traders take profits and adopt a more cautious stance. Ethereum and Ripple have also dropped after a brief recovery. US tariffs are still an important policy under the current administration. In the cryptocurrency space, Monero (XMR) is performing well at around $333, buoyed by increased Open Interest and positive trends in derivatives. The rise in Irish inflation to 2.7% serves as a warning. This figure surpasses the Eurozone average of 2.2% reported for September 2025, indicating uneven price pressures. This situation complicates matters for the European Central Bank, which kept rates steady last month.

Strategic Market Insights

For traders in derivatives, this unexpected inflation data raises the likelihood of future market fluctuations. We recommend buying options on the euro as uncertainty about the ECB’s next steps grows. Specifically, consider purchasing straddles on the EUR/USD to benefit from any significant price movement in either direction. Meanwhile, the US Dollar maintains a strong position, keeping the EUR/USD pair around 1.1600. This is supported by a clear difference in policies between the US and Europe. With US inflation remaining above 3% and the Federal Reserve showing no signs of cutting rates from 5.25%, positioning for dollar strength against the euro remains sensible. The overall market anxiety, highlighted by a US government shutdown and gold prices above $4,000 an ounce, supports cautious trading strategies. Historically, gold saw a surge during the extended government shutdown in late 2018 and early 2019, and the current situation feels reminiscent. Long call options on gold or related ETFs can help hedge against rising political uncertainty. This combination of unexpected European inflation and US dollar strength creates a complex trading environment. We expect currency markets to be influenced by differing central bank policies in the coming weeks. Therefore, trading volatility in euro pairs while maintaining a strong core position in the dollar seems like a sound strategy. Create your live VT Markets account and start trading now.

here to set up a live account on VT Markets now