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19 February 2025,02:27
Trade Of The Day
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19 February 2025, 02:27
* Hawk Watch: USD/CHF continues its rebound as expectations of a hawkish Fed strengthen the U.S. dollar. Recent data revealed that U.S. consumer prices surged at their fastest rate in nearly 18 months this January, reinforcing the Fed’s stance that rate cuts are unlikely in the near term despite ongoing economic uncertainties. Fed officials remain cautious, with the daily sentiment index still reflecting a hawkish bias. Additionally, geopolitical tensions further support the greenback, as U.S.-Russia negotiations in Riyadh yield no progress. Russia sees no need for a Trump-Putin meeting due to unresolved demands, dampening hopes for a ceasefire. Meanwhile, Ukrainian President Volodymyr Zelensky asserts that any “fair” negotiations must involve Ukraine and Europe, contributing to a broader risk-off mood in the markets.
* Technical Breakout: USDCHF was traded higher following prior breakout above the previous resistance level 0.90250. MACD which illustrate bullish bias signal with the formation of golden cross suggest the pair to likely extend its gains.
* Resistance and Support: If the bullish momentum persists, there’s a strong likelihood that the price will potentially head towards the level 0.91650. Conversely, a potential reversal is also to be expected and the price could head back towards 0.88800 after it breach back below the level 0.90250.
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 Switzerland 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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