The United States CFTC Oil NC Net Positions are now at 141.8K, a drop from the previous 156K. This shows a decrease in net positions. The EUR/USD pair has seen a slight rise, trading just above 1.1650, as traders await upcoming US inflation data. Meanwhile, GBP/USD has strengthened, trading around 1.3450 after the Bank of England’s recent rate hike.

Gold Market Analysis

Gold has remained steady at about $3,400 per troy ounce. This stability follows recent highs and is affected by the US’s decision to tax gold bars, which could influence market sentiment. Bitcoin showed a brief increase but has slightly dropped to around $116,525. On the other hand, Ethereum and XRP continue to do well, fueled by renewed optimism in the market. The Bank of England has cut rates by 25 basis points to 4%. There are hints this could mark the end of the easing cycle due to ongoing inflation worries. Policymakers are concerned about inflation rates being higher than expected. A list of top brokers for EUR/USD trading in 2025 is available, providing choices for both new and experienced traders looking for efficient platforms and competitive spreads.

Oil Market Outlook

Large speculators are cutting back on their long positions in oil, signaling a bearish trend for the coming weeks. This indicates that many believe oil prices may have peaked. Traders should think about hedging their long crude positions or using strategies that benefit from price fluctuations or small downturns. The EUR/USD rate is hovering around 1.1650, with the market eagerly awaiting the next US inflation report. Looking back to early 2025, if inflation comes in above the expected 3.5%, it could give the US dollar a big boost and lower this currency pair. It’s wise to avoid making big bets before those numbers are released. The Bank of England’s rate cut to 4% and the signal that its easing cycle may end is a positive move for the pound, explaining its strength around 1.3450. We recommend considering long positions in the pound against currencies with more dovish central banks. Gold’s price remains stable at $3,400, but the new US tax on gold bars adds significant uncertainty. This tax might reduce physical demand from investors, potentially impacting prices negatively in the medium term. For now, using range-trading strategies, like selling covered calls, seems wise while preparing for a possible downward trend. The crypto market is starting to show patterns similar to the 2021 bull run, where money moves from Bitcoin to major altcoins. With Bitcoin pausing at $116,525, the ongoing strength of Ethereum and XRP suggests that an “alt-season” might be starting. We see potential in investing in these altcoins, which could outperform Bitcoin in the near future. Create your live VT Markets account and start trading now.

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