The Baker Hughes oil rig count in the United States has increased from 487 to 489. This change reflects ongoing developments in the oil industry and drilling activity.
The EUR/USD currency pair has remained near 1.0400 following the release of US PCE inflation data for January. Meanwhile, Gold has dipped to fresh multi-week lows below $2,840, influenced by uncertainty regarding trade policies.
GBP/USD maintains a positive trend just above 1.2600 after the same inflation release. Furthermore, the upcoming week will see attention on US payrolls and an ECB rate meeting.
The latest figures from Baker Hughes show a slight increase in active oil rigs, which hints at more drilling activity. Although the rise was minor, it adds to the broader picture of how supply dynamics might shift in the weeks ahead. More rigs usually signal expectations of steady or stronger demand, but it remains to be seen whether this upward trend continues or if it merely reflects temporary adjustments by producers.
Meanwhile, the euro remains near 1.0400 against the dollar. This stability follows the latest US PCE inflation figures, which traders often watch closely for clues on interest rate expectations. Inflation data like this impacts decisions from the Federal Reserve, meaning it has a strong influence over currency pairs like EUR/USD. Any deviation in future inflation readings could lead to more movement in the market.
Gold is under pressure, dropping to levels not seen in several weeks. The recent decline below $2,840 suggests that traders are weighing a combination of policy uncertainty and broader market sentiment. Safe-haven demand can fluctuate based on risk appetite and central bank signals, so further weakness or recovery will likely hinge on upcoming events in the economic calendar.
Sterling continues to hold just above 1.2600, maintaining strength in response to the same PCE inflation data that moved other assets. Looking ahead, focus will shift to US payroll figures, which often bring volatility, along with the European Central Bank’s next rate decision. These events could present new opportunities, particularly if payroll figures surprise markets or if policymakers in Frankfurt signal a shift.
