Danske Research Team
Danske Bank A/S
Majors
EUR/USD: SHORT AT 1.2700 FOR 1.2501; REVISED STOP AT 1.2683
USD/JPY: LONG AT 107.30 FOR 108.74; REVISED STOP AT 107.35
GBP/USD: SELL AT 1.6072 FOR 1.5940 OBJECTIVE, STOP AT 1.6135
USD/CHF: LONG AT .9518 FOR .9625 OBJECTIVE, STOP .9471
AUD/USD: SHORT AT .8745 FOR .8544, STOP AT .8817
USD/CAD: BUY AT 1.1160 FOR 1.1418 STOP AT 1.1081
Crosses
EUR/JPY: POSS BUY FOR 137.45
EUR/GBP: SHORT AT .7920 FOR INITIAL .7851 OBJECTIVE; STOP AT .7950
EUR/CHF: SHORT AT 1.2080 FOR 1.2021; STOP AT 1.2099
EUR/CAD: SHORT AT 1.4225 FOR 1.3855 STOP AT 1.4305
GBP/JPY: BUY AT 172.75 FOR 175.15; STOP AT 171.70
NZD/USD: SELL AT .7880 FOR .7670; STOP AT .7950
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Editors’ Picks
AUD/USD remained bid above 0.6500
AUD/USD extended further its bullish performance, advancing for the fourth session in a row on Thursday, although a sustainable breakout of the key 200-day SMA at 0.6526 still remain elusive.
EUR/USD faces a minor resistance near at 1.0750
EUR/USD quickly left behind Wednesday’s small downtick and resumed its uptrend north of 1.0700 the figure, always on the back of the persistent sell-off in the US Dollar ahead of key PCE data on Friday.
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.
Bitcoin price continues to get rejected from $65K resistance as SEC delays decision on spot BTC ETF options
Bitcoin (BTC) price has markets in disarray, provoking a broader market crash as it slumped to the $62,000 range on Thursday. Meanwhile, reverberations from spot BTC exchange-traded funds (ETFs) continue to influence the market.
US economy: slower growth with stronger inflation
The dollar strengthened, and stocks fell after statistical data from the US. The focus was on the preliminary estimate of GDP for the first quarter. Annualised quarterly growth came in at just 1.6%, down from the 2.5% and 3.4% previously forecast.