EURUSD: SELL 1.1320, SL 1.1400, TP 1.1160 | 18 Abril 2025

Event to pay attention to today:

15:15 EET. EUR - ECB Interest Rate Decision

15:30 EET. USD - Unemployment Claims

15:45 EET. EUR - ECB Press Conference

EURUSD:

EUR/USD is trading on a flat note near 1.1400 during the early Asian session on Thursday. Markets remain cautious as traders wait to see if US President Donald Trump's administration will reach new trade agreements with partners.

Federal Reserve (Fed) Chairman Jerome Powell said on Wednesday that trade tensions risk undermining the Fed's employment and inflation targets. Concerns about slowing economic growth in the U.S. could drive the U.S. dollar (USD) lower and create a tailwind for the major pair.

Globally, the ECB is expected to cut its key interest rate by 25 basis points (bps) on Thursday, marking the sixth consecutive rate cut amid tariff tensions and economic uncertainty.

Traders will be more focused on the ECB press conference. Any words from policymakers could put pressure on the common currency in the near term. However, analysts say ECB President Christine Lagarde is unlikely to make any hints of future rate cuts amid uncertainty and the ECB may decide on its next steps as data becomes available.

Trade recommendation: SELL 1.1320, SL 1.1400, TP 1.1160

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