Danske Research Team
Danske Bank A/S
Majors
EUR/USD: BUY AT 1.3458 FOR 1.3597 OBJECTIVE, STOP 1.3369
USD/JPY: SELL AT 98.53 FOR 97.45 OBJECTIVE, STOP 99.12
GBP/USD: BUY AT 1.6040 FOR A 1.6257 OBJECTIVE; STOP AT 1.5990
USD/CHF: SHORT AT .9359 FOR .9147/.9345 REVISED OBJECTIVE/STOP
AUD/USD: LOOK TO BUY ON DIPS
USD/CAD: LOOK TO SELL
Crosses
EUR/JPY: LONG AT 132.10 FOR 134.37; REVISED STOP AT 131.59
EUR/GBP: SHORT AT .8426 FOR A .8326 OBJECTIVE; STOP AT .8412
EUR/CHF: LONG AT 1.2355 FOR A 1.2466 OBJECTIVE; STOP AT 1.2310
EUR/CAD: LONG AT 1.3710 FOR 1.3935; REVISED STOP AT 1.3710
GBP/JPY: LONG AT 157.50 FOR 160.40, REVISED STOP AT 157.30
NZD/USD: BUY AT .8265 FOR A .8485 OBJECTIVE; STOP AT .8200
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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.