EURUSD: BUY 1.0440, SL 1.0380, TP 1.0510 | 20 February 2025

Event to pay attention to today:

15:30 EET. USD - Unemployment Claims

EURUSD:

The EUR/USD exchange rate fell to 1.0425 during the late US session on Wednesday, with tariff concerns and geopolitical tensions providing support for the US dollar (USD). Investors are awaiting key economic data, including weekly initial jobless claims, the central bank's leading economic index, and the Philadelphia Fed manufacturing index, due out later on Thursday.

The FOMC meeting minutes released on Wednesday indicated that it was appropriate to maintain the target interest rate at its current level, as decided at the January meeting, and that the Fed was in a position to assess the outlook for economic activity, the labour market and inflation. Fed policymakers agreed that inflation must show clear signs of slowing before a decision is made to cut the rate further.

Federal Reserve (Fed) officials Austan Goolsbee, Michael Barr and Alberto Musalem are scheduled to speak on Thursday. Their speeches may provide insights into the future trajectory of US interest rates, with any hawkish comments from Fed policymakers potentially leading to a near-term strengthening of the dollar.The latest round of tariff threats has contributed to a strengthening of the dollar, creating a headwind for the EUR/USD exchange rate. President Trump has voiced criticism of EU tariffs on cars and has threatened retaliatory tariffs on various industries. On Tuesday, Trump announced plans to impose tariffs of around 25% on cars and similar duties on semiconductors and pharmaceutical imports.

Trading recommendation: BUY 1.0440, SL 1.0380, TP 1.0510

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