Danske Research Team
Danske Bank A/S
Majors
EUR/USD: SHORT AT 1.3184 FOR 1.3066, REVISE STOP AT 1.3226
USD/JPY: LONG AT 103.54 FOR REVISED 105.45; REVISE STOP AT 103.42
GBP/USD: LOOK TO SELL
USD/CHF: LONG AT .9121 FOR .9226 OBJECTIVE, REVISED STOP .9122
AUD/USD: LONG AT .9345 FOR .9480; STOP AT .9295
USD/CAD: LONG AT 1.0857 FOR 1.1053 STOP AT 1.0795
Crosses
EUR/JPY: SHORT AT 137.10 FOR REVISED 135.99; REVISED STOP AT 137.31
EUR/GBP: POSSIBLY SELL
EUR/CHF: LOOK TO SELL FOR 1.2030/1.2006
EUR/CAD: SHORT AT 1.4340 FOR 1.4165 STOP AT 1.4405
GBP/JPY: LONG AT 171.95 FOR 173.50, STOP AT 171.50
NZD/USD: SHORT AT .8400 FOR .8282; STOP AT .8440
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Editors’ Picks
EUR/USD rebounds to 1.0650 on renewed USD weakness
EUR/USD gained traction and rose to the 1.0650 area in the early American session on Tuesday. Disappointing housing data from the US seem to be weighing on the US Dollar, helping the pair stretch higher.
GBP/USD climbs above 1.2450 after US data
GBP/USD extended its recovery from the multi-month low it touched near 1.2400 and turned positive on the day above 1.2450. The modest selling pressure surrounding the US Dollar after dismal housing data supports the pair's rebound.
Gold retreats to $2,370 as US yields push higher
Gold stages a correction on Tuesday and fluctuates in negative territory near $2,370 following Monday's upsurge. The benchmark 10-year US Treasury bond yield continues to push higher above 4.6% and makes it difficult for XAU/USD to gain traction.
XRP struggles below $0.50 resistance as SEC vs. Ripple lawsuit likely to enter final pretrial conference
XRP is struggling with resistance at $0.50 as Ripple and the US Securities and Exchange Commission (SEC) are gearing up for the final pretrial conference on Tuesday at a New York court.
US outperformance continues
The economic divergence between the US and the rest of the world has become increasingly pronounced. The latest US inflation prints highlight that underlying inflation pressures seemingly remain stickier than in most other parts of the world supported by a strong US labour market.