Danske Research Team
Danske Bank A/S
Majors
EUR/USD: LONG AT 1.3205 FOR 1.3341 OBJECTIVE, REVISED STOP 1.3229
USD/JPY: SELL AT 96.95 FOR 94.98 OBJECTIVE, STOP 97.79
GBP/USD: LONG AT 1.5520 FOR A 1.5690 OBJECTIVE; REVISE STOP AT 1.5510
USD/CHF: POSS BUY LOWER
AUD/USD: SELL AT .9540 FOR .9223; STOP AT .9585
USD/CAD: SHORT AT 1.0215 FOR 1.0082; STOP AT 1.0295
Crosses
EUR/JPY: POSS BUY LOWER
EUR/GBP: POSSIBLY BUY
EUR/CHF: POSSIBLY SELL
EUR/CAD: SHORT AT 1.3550 FOR 1.3310 STOP AT 1.3625
GBP/JPY: SELL AT 151.85 FOR 146.55, STOP AT 152.65
NZD/USD: SHORT AT .8000 FOR A .7744 OBJECTIVE; STOP AT .7930
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Editors’ Picks
EUR/USD clings to daily gains above 1.0650
EUR/USD gained traction and turned positive on the day above 1.0650. The improvement seen in risk mood following the earlier flight to safety weighs on the US Dollar ahead of the weekend and helps the pair push higher.
GBP/USD recovers toward 1.2450 after UK Retail Sales data
GBP/USD reversed its direction and advanced to the 1.2450 area after touching a fresh multi-month low below 1.2400 in the Asian session. The positive shift seen in risk mood on easing fears over a deepening Iran-Israel conflict supports the pair.
Gold holds steady at around $2,380 following earlier spike
Gold stabilized near $2,380 after spiking above $2,400 with the immediate reaction to reports of Israel striking Iran. Meanwhile, the pullback seen in the US Treasury bond yields helps XAU/USD hold its ground.
Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium
Bitcoin price shows no signs of directional bias while it holds above $60,000. The fourth BTC halving is partially priced in, according to Deutsche Bank’s research.
Week ahead – US GDP and BoJ decision on top of next week’s agenda
US GDP, core PCE and PMIs the next tests for the Dollar. Investors await BoJ for guidance about next rate hike. EU and UK PMIs, as well as Australian CPIs also on tap.