Ireland’s AIB Services PMI rose to 56.7 in October, up from 53.5, signaling growth in the service sector. The GBP/USD pair made slight gains above 1.3000, thanks to a weaker US Dollar. However, potential increases could be limited by the UK finance minister’s mention of upcoming tax hikes in the budget. Gold prices soared past $3,950 during European trading due to concerns about a US government shutdown and geopolitical tensions, boosting demand for safe assets. In the cryptocurrency space, Bitcoin, Ethereum, and Ripple have stabilised after a recent drop. These coins are holding steady near important support levels as traders consider their next moves. The DeFi platform Balancer suffered a $120 million hack, impacting older pools that Balancer couldn’t pause. Several brokers are highlighted for their 2025 offerings, focusing on trading costs, leverage, and regional details. There are recommendations on the best brokers for various trading needs. FXStreet shares information about risks and uncertainties and does not recommend specific trading actions. They stress the importance of thorough research before making investment choices. The ongoing US government shutdown, now in its fifth week, is fueling demand for safe assets and putting pressure on the US Dollar. The US Dollar Index has softened to around 100.00 due to this extended political instability. Last week’s initial jobless claims rose to 250,000. Moving forward, traders might consider buying call options on major currency pairs against the dollar, like the EUR/USD, to benefit from further dollar weakness. The move to safety is driving gold prices to new highs over $3,950 an ounce, reminiscent of the last decade’s sovereign debt fears. This situation is not solely due to the shutdown; persistent global inflation, highlighted by the latest US CPI report showing 4.1% inflation, is also significant. Given these factors, we suggest using long call spreads on gold futures contracts to gain upside exposure while managing high option costs. Unlike the chaos in the US, Europe shows resilience, exemplified by Ireland’s strong 56.7 services PMI. This positive news follows Germany’s ZEW Economic Sentiment survey, which unexpectedly rose to 15.2. A cautious European Central Bank and a weak dollar hint that the EUR/USD pair, currently around 1.1500, could rise further. We believe selling out-of-the-money put options to collect premium is a smart strategy. The British Pound remains above 1.3000, but challenges are on the horizon as the UK Finance Minister hinted at tax increases. Last week’s UK retail sales slipped by 0.2%, indicating that consumers are already feeling pressure before any new taxes come into play. This creates a mixed picture for the GBP/USD, making range-bound strategies like setting up an iron condor around the 1.3050 level potentially profitable.

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