Baker Hughes US Total Rig Count comes in at 587

The Baker Hughes US Total Rig Count was released at 587 on July 24, 2026, down from the previous reading of 588. No consensus figure was available for this release. The rig count decreased by one unit from the prior week.

Following the release, the US Dollar generally strengthened against major currencies. One hour after the data, AUDUSD was down 5.1 pips, EURUSD was down 8.7 pips, GBPUSD was down 8.9 pips, and NZDUSD was down 6.7 pips. USDCAD was up 13 pips, USDCHF was up 9.5 pips, and USDJPY was up 3.8 pips. Gold, XAUUSD, was down 40 pips. The 40 pip move in XAUUSD was larger than its historical top-quarter moves of 37 pips or more. The 13 pip move in USDCAD was also larger than its historical top-quarter moves of 11 pips or more. The moves in EURUSD, NZDUSD, and USDCHF were larger than their respective median 1-hour moves, and close to or above their top-quarter historical moves. The moves in AUDUSD, GBPUSD, and USDJPY were larger than their median 1-hour moves, but below their top-quarter historical moves.