Danske Research Team
Danske Bank A/S
Majors
EUR/USD: BUY AT 1.3458 FOR 1.3597 OBJECTIVE, STOP 1.3369
USD/JPY: SELL AT 98.53 FOR 97.45 OBJECTIVE, STOP 99.12
GBP/USD: BUY AT 1.6040 FOR A 1.6257 OBJECTIVE; STOP AT 1.5990
USD/CHF: SHORT AT .9359 FOR .9147/.9345 REVISED OBJECTIVE/STOP
AUD/USD: LOOK TO BUY ON DIPS
USD/CAD: LOOK TO SELL
Crosses
EUR/JPY: LONG AT 132.10 FOR 134.37; REVISED STOP AT 131.59
EUR/GBP: SHORT AT .8426 FOR A .8326 OBJECTIVE; STOP AT .8412
EUR/CHF: LONG AT 1.2355 FOR A 1.2466 OBJECTIVE; STOP AT 1.2310
EUR/CAD: LONG AT 1.3710 FOR 1.3935; REVISED STOP AT 1.3710
GBP/JPY: LONG AT 157.50 FOR 160.40, REVISED STOP AT 157.30
NZD/USD: BUY AT .8265 FOR A .8485 OBJECTIVE; STOP AT .8200
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Editors’ Picks
EUR/USD consolidates weekly gains above 1.1150
EUR/USD moves up and down in a narrow channel slightly above 1.1150 on Friday. In the absence of high-tier macroeconomic data releases, comments from central bank officials and the risk mood could drive the pair's action heading into the weekend.
GBP/USD stabilizes near 1.3300, looks to post strong weekly gains
GBP/USD trades modestly higher on the day near 1.3300, supported by the upbeat UK Retail Sales data for August. The pair remains on track to end the week, which featured Fed and BoE policy decisions, with strong gains.
Gold extends rally to new record-high above $2,610
Gold (XAU/USD) preserves its bullish momentum and trades at a new all-time high above $2,610 on Friday. Heightened expectations that global central banks will follow the Fed in easing policy and slashing rates lift XAU/USD.
Week ahead – SNB to cut again, RBA to stand pat, PCE inflation also on tap
SNB is expected to ease for third time; might cut by 50bps. RBA to hold rates but could turn less hawkish as CPI falls. After inaugural Fed cut, attention turns to PCE inflation.
Bank of Japan set to keep rates on hold after July’s hike shocked markets
The Bank of Japan is expected to keep its short-term interest rate target between 0.15% and 0.25% on Friday, following the conclusion of its two-day monetary policy review. The decision is set to be announced during the early Asian session.
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