The UK’s S&P Global Composite PMI for September came in at 50.1, slightly below the expected 51. This indicates that economic activity is just above stagnation. Gold prices are currently below their peak levels, affected by an ongoing US government shutdown. Additionally, the Yen has dropped due to political instability and poor employment data.

GBP/JPY and Euro/Dollar Movements

The GBP/JPY is steady around 198.00 following signs of a slowdown in the UK’s PMI. Meanwhile, the Euro/Dollar pair rose to 1.1750 as the US Dollar struggled to benefit from strong ISM Services PMI results. Bitcoin is trading around $120,000 after reaching a high of $120,960. Altcoins like Ethereum and Ripple remain near their weekly highs, supported by steady demand. FXStreet has recently updated its design to improve its editorial and business strategies. The Pump.fun token is trading positively above $0.0070, boosted by favorable indicators and renewed retail interest.

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Brokers for 2025 are highlighted, focusing on Forex, CFDs, and the best options for low spreads, leverage, and regulation. They provide vital insights into regions like MENA, LATAM, and Indonesia. The UK Composite PMI for September, at 50.1 and just above contraction, signals an economic slowdown. This weak reading raises the chances that the Bank of England may consider cutting interest rates sooner than expected to boost growth. Thus, it may be wise to prepare for potential Pound Sterling weakness by using put options on GBP/USD in the coming weeks. The ongoing US government shutdown is creating major uncertainty in the market, which is putting pressure on the US Dollar. We observed a similar situation during the lengthy shutdown of late 2018 and early 2019, which the Congressional Budget Office estimated to have reduced real GDP by $3 billion in that quarter. This suggests buying call options on the VIX index could be a smart way to protect against an expected surge in market volatility. With the dollar weakening and uncertainty rising in the US, Gold is reinforcing its status as a key safe-haven asset. Its rise toward the $3,890 level continues the strong institutional buying trend we saw in 2024, when central banks added over 1,000 tonnes to their gold reserves for the second consecutive year. We should consider buying call options on gold futures to take advantage of this movement toward safety. Create your live VT Markets account and start trading now.

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