Danske Research Team
Danske Bank A/S
Majors
EUR/USD: LOOK TO BUY
USD/JPY: BUY AT 101.75 FOR 102.64 OBJECTIVE, STOP 101.48
GBP/USD: SHORT AT 1.6862 FOR 1.6693; REVISE STOP AT 1.6852
USD/CHF: LONG AT .8909 FOR REVISED .9156; REVISED STOP AT .9028
AUD/USD: SHORT AT .9278 FOR .9203; STOP AT .9308
USD/CAD: LONG AT 1.0915 FOR 1.1007 REVISED STOP AT 1.0895
Crosses
EUR/JPY: BUY AT 136.42 FOR 137.71 OBJECTIVE, STOP 135.69
EUR/GBP: BUY AT .7955 FOR .8082 STOP AT .7900
EUR/CHF: LOOK TO SELL
EUR/CAD: LONG AT 1.4590 FOR RAISED 1.4835; REVISE STOP AT 1.4580
GBP/JPY: SELL AT 171.75 FOR 169.50, STOP AT 172.70
NZD/USD: SHORT AT .8490 FOR .8343; STOP AT .8540
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EUR/USD regains traction, recovers above 1.0700
EUR/USD regained its traction and turned positive on the day above 1.0700 in the American session. The US Dollar struggles to preserve its strength after the data from the US showed that the economy grew at a softer pace than expected in Q1.
GBP/USD returns to 1.2500 area in volatile session
GBP/USD reversed its direction and recovered to 1.2500 after falling to the 1.2450 area earlier in the day. Although markets remain risk-averse, the US Dollar struggles to find demand following the disappointing GDP data.
Gold holds around $2,330 after dismal US data
Gold fell below $2,320 in the early American session as US yields shot higher after the data showed a significant increase in the US GDP price deflator in Q1. With safe-haven flows dominating the markets, however, XAU/USD reversed its direction and rose above $2,340.
XRP extends its decline, crypto experts comment on Ripple stablecoin and benefits for XRP Ledger
Ripple extends decline to $0.52 on Thursday, wipes out weekly gains. Crypto expert asks Ripple CTO how the stablecoin will benefit the XRP Ledger and native token XRP.
After the US close, it’s the Tokyo CPI
After the US close, it’s the Tokyo CPI, a reliable indicator of the national number and then the BoJ policy announcement. Tokyo CPI ex food and energy in Japan was a rise to 2.90% in March from 2.50%.