Danske Research Team
Danske Bank A/S
Majors
EUR/USD: LONG AT 1.3852 FOR 1.3979 OBJECTIVE, REVISED STOP 1.3875
USD/JPY: BUY AT 102.49 FOR 103.43 OBJECTIVE, STOP 102.06
GBP/USD: REVISE BUY AT 1.6640 FOR REVISED 1.6787; STOP AT 1.6560
USD/CHF: SHORT AT .8800 FOR .8651; REVISE STOP AT .8806
AUD/USD: POSSIBLY LOOKING TO BUY
USD/CAD: LONG AT 1.1100 FOR 1.1225 REVISED STOP AT 1.1065
Crosses
EUR/JPY: LONG AT 142.55 FOR 145.08 OBJECTIVE, REVISED STOP 142.20
EUR/GBP: BUY LOWER
EUR/CHF: SELL AT 1.2175 FOR 1.2102; STOP AT 1.2201
EUR/CAD: SHORT AT 1.5440 FOR 1.5300 OBJ, STOP 1.5510
GBP/JPY: LOOK TO BUY
NZD/USD: LONG AT .8260 FOR REVISED .8643; STOP AT .8455
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EUR/USD holds below 1.0750 ahead of key US data
EUR/USD trades in a tight range below 1.0750 in the European session on Friday. The US Dollar struggles to gather strength ahead of key PCE Price Index data, the Fed's preferred gauge of inflation, and helps the pair hold its ground.
USD/JPY stays firm above 156.00 after BoJ Governor Ueda's comments
USD/JPY stays firm above 156.00 after surging above this level on the Bank of Japan's decision to leave the policy settings unchanged. BoJ Governor said weak Yen was not impacting prices but added that they will watch FX developments closely.
Gold price oscillates in a range as the focus remains glued to the US PCE Price Index
Gold price struggles to attract any meaningful buyers amid the emergence of fresh USD buying. Bets that the Fed will keep rates higher for longer amid sticky inflation help revive the USD demand.
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US core PCE inflation set to signal firm price pressures as markets delay Federal Reserve rate cut bets
The core PCE Price Index, which excludes volatile food and energy prices, is seen as the more influential measure of inflation in terms of Fed positioning. The index is forecast to rise 0.3% on a monthly basis in March, matching February’s increase.