Danske Research Team
Danske Bank A/S
Interested in more FX key technical levels? Take a look at Luc Luyet's daily technical outlook.
Majors
EUR/USD: SHORT AT 1.1269 FOR 1.1017, STOP 1.1333
USD/JPY: BUY AT 119.60 FOR 122.13, STOP 118.59
GBP/USD: BUY AT 1.5160 FOR 1.5318; STOP AT 1.5085
USD/CHF: LONG AT .9695 FOR .9903, STOP .9639
AUD/USD: POSSIBLY SELL HIGHER
USD/CAD: SELL AT 1.3327 FOR 1.2952; STOP AT 1.3435
Crosses
EUR/JPY: SHORT AT 134.85 FOR 131.30; REVISE STOP AT 135.45
EUR/GBP: LONG AT .7375 FOR REVISED .7501 OBJECTIVE; STOP AT .7300
EUR/CHF: LONG AT 1.0910 FOR 1.1186; STOP AT 1.0823
EUR/CAD: POSS SELL
GBP/JPY: SHORT AT 182.00 FOR 179.32, STOP AT 183.43
NZD/USD: SHORT AT .6420 FOR .6130; STOP AT .6485
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Editors’ Picks
EUR/USD retreats below 1.0700 after US GDP data
EUR/USD came under modest bearish pressure and retreated below 1.0700. Although the US data showed that the economy grew at a softer pace than expected in Q1, strong inflation-related details provided a boost to the USD.
GBP/USD declines below 1.2500 as USD rebounds
GBP/USD declined below 1.2500 and erased the majority of its daily gains with the immediate reaction to the US GDP report. The US economy expanded at a softer pace than expected in Q1 but the price deflator jumped to 3.4% from 1.8%.
Gold drops below $2,320 as US yields shoot higher
Gold lost its traction and turned negative on the day below $2,320 in the American session on Thursday. The benchmark 10-year US Treasury bond yield is up more than 1% on the day above 4.7% after US GDP report, weighing on XAU/USD.
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%.