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25 February 2025,02:09
Trade Of The Day
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25 February 2025, 02:09
* Trump Turmoil: West Texas Intermediate (WTI), the U.S. crude oil benchmark, continues to face selling pressure amid growing concerns over weaker energy demand and President Donald Trump’s tariff policies. Plans for higher tariffs have likely intensified inflation worries at the U.S. Federal Reserve (Fed), potentially strengthening the central bank’s resolve to maintain elevated interest rates. This could, in turn, slow economic growth and reduce energy consumption. On Monday, Trump reiterated that sweeping U.S. tariffs on imports from Canada and Mexico will take effect once the current one-month delay ends next week. Further weighing on oil prices is the potential for a peace deal between Russia and Ukraine, which may result in the lifting of Russian sanctions, paving the way for unrestricted Russian crude supply to re-enter the market.
* Technical Breakout: Crude oil price was traded lower following recent breakout below the previous support level 72.00. MACD which illustrate bearish bias signal suggest the commodity to likely extend its losses.
* Resistance and Support: If the bearish momentum persists, there’s a strong likelihood that the price will potentially head towards the level 66.70. Conversely, a potential reversal is also to be expected and the price could head towards the resistance level 72.00.
Looking ahead, traders will keep a close watch on key U.S. economic data, including GDP and the Fed’s preferred inflation measure, the Core PCE Price Index, for further market direction. Additionally, attention will remain on ongoing developments regarding President Donald Trump’s tariff policies.
Learn more about how to navigate the prop trading landscape by checking out PU Xtrader’s trading blogs.
Stay updated on US data, global market updates, central bank updates and any shifts in the US Dollar’s strength by following PU Xtrader’s financial news page.
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28 February 2025, 02:09 Euro Declines Under Tariff Pressure
27 February 2025, 02:33 Gold Declines as Geopolitical Tension Fears Ease
25 February 2025, 02:09 Crude Oil Fell on U.S. Economic Worries and Trump Tariffs
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