Danske Research Team
Danske Bank A/S
Majors
EUR/USD: SHORT AT 1.2940 FOR 1.2788; REVISED STOP AT 1.2945
USD/JPY: LONG AT 106.85 FOR REVISED 109.19; REVISE STOP AT 107.37
GBP/USD: BUY AT 1.6220 FOR 1.6418; STOP AT 1.6155
USD/CHF: LONG AT .9350 FOR .9478; REVISE STOP AT .9358
AUD/USD: LOOK TO SELL
USD/CAD: LOOK TO BUY
Crosses
EUR/JPY: LONG AT 138.75 FOR 140.09; REVISE STOP TO 138.90
EUR/GBP: POSSIBLY SELL
EUR/CHF: LONG AT 1.2085 FOR 1.2155; STOP AT 1.2065
EUR/CAD: SHORT AT 1.4325 FOR REVISED 1.4040 OBJ, REVISED STOP 1.4345
GBP/JPY: LONG AT 174.65 FOR 178.40; REVISED STOP AT 174.60
NZD/USD: REVISED SELL AT .8140 FOR REVISED .8000; STOP AT .8210
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Editors’ Picks
EUR/USD consolidates gains below 1.0700 amid upbeat mood
EUR/USD is consolidating its recovery below 1.0700 in the European session on Thursday. The US Dollar holds its corrective decline amid improving market mood, despite looming Middle East geopolitical risks. Speeches from ECB and Fed officials remain on tap.
GBP/USD clings to moderate gains above 1.2450 on US Dollar weakness
GBP/USD is clinging to recovery gains above 1.2450 in European trading 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 price shines amid fears of fresh escalation in Middle East tensions
Gold price rebounds to $2,380 in Thursday’s European session after posting losses on Wednesday. The precious metal holds gains amid fears that Middle East tensions could worsen and spread beyond Gaza if Israel responds brutally to Iran.
Ripple faces significant correction as former SEC litigator says lawsuit could make it to Supreme Court
Ripple (XRP) price hovers below the key $0.50 level on Thursday after failing at another attempt to break and close above the resistance for the fourth day in a row.
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.