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20 Feb 2025

EUR/USD: Likely to trade in a 1.0395/1.0455 range – UOB Group

Euro (EUR) is likely to trade in a 1.0395/1.0455 range vs US Dollar (USD). In the longer run, EUR appears to have moved into a 1.0350/1.0500 range trading phase, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.

EUR appears to have moved into a range trading phase

24-HOUR VIEW: "Yesterday, we indicated that EUR 'could dip to 1.0430 before recovering.' We also indicated that 'the strong support at 1.0415 is unlikely to come under threat.' However, EUR fell more than expected to 1.0400, closing lower by 0.35% at 1.0421. Despite the decline, there has been no significant increase in downward momentum. This, combined with oversold conditions, suggests EUR is unlikely to weaken much further. Today, EUR is more likely to trade in a 1.0395/1.0455 range."

1-3 WEEKS VIEW: "We highlighted last Friday (14 Feb, spot at 1.0460) that 'the outlook for EUR is positive, with a technical target of 1.0530.' EUR then rose to 1.0514 and then pulled back. Yesterday, it broke below our ‘strong support’ level at 1.0415, indicating that upward momentum has faded. EUR appears to have moved into a range trading phase, and it is likely to trade between 1.0350 and 1.0500 for the time being."

Feb 20, 2025

China SMEI: Activity slows in February – Standard Chartered

Headline SMEI edged down 0.5pts to 50.4 in February as current performance sub-index fell below 50.
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Feb 20, 2025

US Dollar Index remains subdued around 107.00 as Treasury yields continue to fall

The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, depreciates after registering gains for the last two successive days amid falling Treasury yields.
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