Danske Research Team
Danske Bank A/S
Majors
EUR/USD: SELL AT 1.0979 FOR 1.0696 OBJECTIVE, STOP 1.1063
USD/JPY: LONG AT 119.71 FOR INITIAL 121.41, STOP AT 119.08
GBP/USD: REVISE BUY AT 1.4820 FOR 1.5203; STOP AT 1.4715
USD/CHF: LONG AT .9708 FOR .9984 INITIAL OBJECTIVE, STOP .9625
AUD/USD: BUY AT .7810 FOR .8033; STOP AT .7745
USD/CAD: POSS SELL
Crosses
EUR/JPY: SELL AT 131.50 FOR 128.37 OBJECTIVE, STOP 132.15
EUR/GBP: POSSIBLY BUY
EUR/CHF: POSS SELL
EUR/CAD: BUY AT 1.3575 FOR 1.3895 STOP AT 1.3470
GBP/JPY: SHORT AT 179.00 FOR 175.50; STOP AT 180.20
NZD/USD: REVISE BUY AT .7555 FOR .7712; REVISED STOP AT .7495
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Editors’ Picks
AUD/USD stands firm above 0.6500 with markets bracing for Aussie PPI, US inflation
The Aussie Dollar begins Friday’s Asian session on the right foot against the Greenback after posting gains of 0.33% on Thursday. The AUD/USD advance was sponsored by a United States report showing the economy is growing below estimates while inflation picked up. The pair traded at 0.6518.
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 soars as US economic woes and inflation fears grip investors
Gold prices advanced modestly during Thursday’s North American session, gaining more than 0.5% following the release of crucial economic data from the United States. GDP figures for the first quarter of 2024 missed estimates, increasing speculation that the US Fed could lower borrowing costs.
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.