ATFX Market Outlook 18th February 2025

ATFX Market Outlook 18th February 2025

Gold briefly reclaimed $2,900 overnight, while the RBA is expected to cut rates

Opinion Today:

Dow futures climbed on Tuesday as investors returned from the extended holiday weekend, with market participants looking ahead to this week's release of the latest FOMC minutes to assess the outlook for monetary policy. Crude oil prices paused in early trading on Tuesday after gaining in the previous session following a drone attack on an oil pipeline pumping station in Russia that reduced flows from Kazakhstan. Gold recovered from the biggest intraday decline in two months, returning to the key $2,900 level, as fears of an impending trade war continue to support safe-haven demand.

Today, February 18, 2025, the market focus is on several key economic events. During the Euro session, the RBA will announce its interest rate decision, which is expected to be bearish for AUD and NZD. Following this, the RBA press conference will provide insights into the rate outlook. The UK unemployment rate is anticipated to rise, likely impacting GBP negatively. The EU's ZEW Economic Sentiment Index may boost EUR and the GER30 index. Lastly, Canada's CPI for January is expected to show improvement, bullish for CAD. During the US session tomorrow, key releases include the RBNZ interest rate decision and UK CPI, both of which could significantly affect NZD, AUD, and GBP.

Key Data:

[ATFX] Feb 18 Key Data and Events to Watch:

11:30 RBA Interest Rate Decision *** 

12:30 RBA Press Conference *** 

15:00 GB Unemployment Rate & Employment Change JAN ** 

18:00 EU ZEW Economic Sentiment Index FEB ** 

21:30 CA CPI JAN *** 

09:00 RBNZ Interest Rate Decision *** 

10:00 RBNZ Press Conference *** 

15:00 GB CPI & PPI JAN *** 

17:00 EU Current Account DEC **

21:30 US Building Permits & Housing Starts JAN ** 

EUR/USD

1.0529/1.0568 Resistance

1.0430/1.0400 Support 

EUR/USD was steady on the day at $1.04735.Technically,the bullish momentum wanes ans steady above the 20 moving average. A breaks below 1.04500 may cause the price to test the support level. Conversely , a close above 1.05 may trigger the soaring of the pair. 

GBP/USD

1.2662/1.2688 Resistance

 1.2576/1.2551 Support 

GBP/USD rises ahead of UK earnings and employment data.The bullish moment persists and there is a chance that the price might extend its rally toward the next resistance. A close below 1.260 may cause the price to retrace. 

USD/JPY

152.42/152.88 Resistance

150.95/150.51 Support 

USD/JPY held on to its recent gains as strong growth data bolstered odds of the Bank of Japan raising interest rates again this year, with July seen as a live meeting. The bearish momentum pause after the selling pressure. The price rebound and there is a chance that the price might be retrace and test the next resistance level. 

USD/CAD

1.4260/1.4340 Resistance

1.4054/1.3993 Support

USD/CAD pressured as US data softens and the Canadian economy outperforms. The price under pressure and there is a chance that the price might test the next support level . Conversely, if the price soar above 1.42 level may trigger the soaring of the price. 

U.S Crude Oil Futures (March)

72.21/72.77 Resistance

69.84/69.27 Support 

Crude oil prices paused in early trading on Tuesday after gaining in the previous session following a drone attack on an oil pipeline pumping station in Russia that reduced flows from Kazakhstan. The price rebound, and there is a chance that the price might continue its rally toward the next resistance level. 

Spot Gold

2917/2930 Resistance

2875/2862 Support

Spot Silver

32.57/32.89 Resistance

32.06/31.80 Support 

Gold recovered from the biggest intraday decline in two months, returning to the key $2,900 level, as fears of an impending trade war continue to support safe-haven demand. The price rebound from the bottom and stand above the 2900 mark. If the price able to secure the level may extend its rally to the next resistance level. 

US30

44870/45043 Resistance 

44323/44153 Support

Dow futures climbed on Tuesday as investors returned from the extended holiday weekend, with market participants looking ahead to this week's release of the latest FOMC minutes to assess the outlook for monetary policy. If the price breaks under the 44,500 level may cause the price to test the support region. Conversely, support above the 20 moving average may trigger the soaring of the Dow futures. 

NAS100

22320/22431 Resistance

21945/21801 Support

NAS100 climbed on Tuesday as investors returned from the extended holiday weekend, with market participants looking ahead to this week's release of the latest FOMC minutes to assess the outlook for monetary policy. The bullish momentum persist and there is a chance that the price might be extend to the next resistance level. 

BTC (Bitcoin)

97068/98474 Resistance

94456/93172 Support

BTC remain muted and trade around 96,000 marks. If the price close above the moving average, there is a chance that the price might extend its rally to the next resistance level. Conversely , if the price close below, may cause the price to test the support. 

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