Danske Research Team
Danske Bank A/S
Majors
EUR/USD: LONG AT 1.3633 FOR 1.3734 OBJECTIVE, STOP 1.3569
USD/JPY: LONG AT 102.35 FOR 103.02 OBJECTIVE, STOP 102.10
GBP/USD: LONG AT 1.6790 FOR 1.6922; REVISE STOP AT 1.6760
USD/CHF: SHORT AT .8952 FOR .8859 OBJECTIVE, STOP .9005
AUD/USD: ADJUSTED BUY AT .9326 FOR .9461; STOP AT .9289
USD/CAD: BUY AT 1.0892 FOR 1.1053 STOP AT 1.0825
Crosses
EUR/JPY: BUY AT 139.67 FOR 140.75 OBJECTIVE, STOP 139.17
EUR/GBP: LONG AT .8110 FOR .8184; STOP AT .8080
EUR/CHF: LOOK TO SELL
EUR/CAD: SELL AT 1.4985 FOR 1.4730 STOP AT 1.5055
GBP/JPY: LONG AT 172.00 FOR 173.65; STOP AT 171.50
NZD/USD: REVISE BUY AT .8500 FOR .8604; REVISE STOP AT .8470
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EUR/USD consolidates recovery below 1.0700 amid upbeat mood
EUR/USD is consolidating its recovery but remains below 1.0700 in early Europe on Thursday. The US Dollar holds its corrective decline amid a stabilizing market mood, despite looming Middle East geopolitical risks. Speeches from ECB and Fed officials remain on tap.
GBP/USD advances toward 1.2500 on weaker US Dollar
GBP/USD is extending recovery gains toward 1.2500 in the European morning on Thursday. The pair stays supported by a sustained US Dollar weakness alongside the US Treasury bond yields. Risk appetite also underpins the higher-yielding currency pair. ahead of mid-tier US data and Fedspeak.
Gold appears a ‘buy-the-dips’ trade on simmering Israel-Iran tensions
Gold price attempts another run to reclaim $2,400 amid looming geopolitical risks. US Dollar pulls back with Treasury yields despite hawkish Fedspeak, as risk appetite returns.
Manta Network price braces for volatility as $44 million worth of MANTA is due to flood markets
Manta Network price is defending support at $1.80 as multiple technical indicators flash bearish. 21.67 million MANTA tokens worth $44 million are due to flood markets in a cliff unlock on Thursday.
Have we seen the extent of the Fed rate repricing?
Markets have been mostly consolidating recent moves into Thursday. We’ve seen some profit taking on Dollar longs and renewed demand for US equities into the dip. Whether or not this holds up is a completely different story.