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18 February 2025,02:23
Trade Of The Day
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18 February 2025, 02:23
* Tariff Threat: The euro has pulled back from its recent high against the dollar as investors remain cautious, evaluating the potential impact of U.S. President Donald Trump’s proposed tariffs on the Eurozone. On Friday, Trump announced plans to impose tariffs on imported cars around April 2, with reciprocal tariffs expected during the same period. Analysts predict these levies will mainly impact Germany, Japan, and South Korea, the leading car exporters to the U.S. According to OEC data, Germany exported $24.3 billion worth of vehicles to the U.S. in 2023. Over the weekend, European Central Bank (ECB) policymaker and Bank of Italy Governor Fabio Panetta stated at Italy’s annual Assiom-Forex financial conference that the tariffs’ effect on Eurozone inflation would likely be “limited, if not slightly negative.” He maintained a dovish monetary policy stance, stressing that the primary concern for the region is inflation dropping below the 2% target in the medium term.
* Technical Breakout: EURUSD was traded lower following prior retracement from its high and currently retest the support level 1.04550. MACD which illustrate bearish bias signal with the formation of death cross suggest the pair to likely extend its losses after it breach below the level.
* Resistance and Support: If the bearish momentum persists, there’s a strong likelihood that the price will potentially head towards the level 1.03850 after it breaks below the level 1.04550. Conversely, a potential reversal is also to be expected and the price could head back towards 1.05300.
Looking ahead, traders will seek further direction from key upcoming events this week, including the FOMC Meeting Minutes, S&P Global Manufacturing and Services PMI, and speeches from President Donald Trump.
Learn more about how to navigate the prop trading landscape by checking out PU Xtrader’s trading blogs.
Stay updated on US and Eurozone 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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