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28 January 2025,02:27
Trade Of The Day
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28 January 2025, 02:27
* Tariff Turmoil: The Euro has weakened against the U.S. dollar as markets weigh ongoing concerns about tariff threats and the trade war. Tensions flared after a weekend exchange between U.S. President Donald Trump and Colombia over migrant deportations. While the threat remained mostly rhetorical, markets are wary of the potential for swift tariff impositions. The uncertainty surrounding Trump’s trade and immigration policies may strengthen the Federal Reserve’s cautious approach to rate cuts this year, providing support for the U.S. dollar.
* Technical Breakout: EURUSD was traded lower following prior breakout below the previous support level 1.0455. MACD which illustrate bearish bias signal suggest the pair 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 1.03850. Conversely, a potential reversal is also to be expected and the price could head back towards 1.05300 after it breach back above the level 1.04550.
Looking ahead, traders will focus on key U.S. data which includes ADP Non-Farm Employment Change, Non-Farm Payrolls and Unemployment Rate, to assess market sentiment and gain further insights into economic trends.
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, Trump updates, global market updates, central bank updates and any shifts in the US Dollar’s strength and any shifts in the US Dollar’s strength by following PU Xtrader’s financial news page.
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28 January 2025, 02:27 Euro Weakens as Markets React to New Tariff Warnings
27 January 2025, 02:29 USD/JPY Declines Following BoJ Rate Increase
24 January 2025, 02:33 New Zealand Kiwi Rose As China Unveils Stimulus Measure
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