Danske Research Team
Danske Bank A/S
Majors
EUR/USD: LOOK TO SELL HIGHER
USD/JPY: SHORT AT 101.83 FOR 100.76; REVISED STOP AT 101.63
GBP/USD: SHORT AT 1.7100 FOR 1.6972; STOP AT 1.7155
USD/CHF: LONG AT .8909 FOR .9064; REVISED STOP AT .8955
AUD/USD: POSSIBLY LOOKING TO SELL
USD/CAD: SHORT AT 1.0785 FOR 1.0620 REVISED STOP AT 1.0805
Crosses
EUR/JPY: SHORT AT 137.97 FOR REVISED 136.25 OBJ, REV STOP 137.58
EUR/GBP: SHORT AT .8015 FOR REVISED .7857; STOP AT .7950
EUR/CHF: SHORT AT 1.2190 FOR REVISED 1.2123; STOP AT 1.2166
EUR/CAD: SELL AT 1.4550 FOR 1.4410 OBJ, STOP 1.4620
GBP/JPY: BUY AT 172.15 FOR 174.55 STOP AT 171.60
NZD/USD: SHORT AT .8700 FOR .8568; STOP AT .8755
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EUR/USD regains traction, recovers above 1.0700
EUR/USD regained its traction and turned positive on the day above 1.0700 in the American session. The US Dollar struggles to preserve its strength after the data from the US showed that the economy grew at a softer pace than expected in Q1.
GBP/USD returns to 1.2500 area in volatile session
GBP/USD reversed its direction and recovered to 1.2500 after falling to the 1.2450 area earlier in the day. Although markets remain risk-averse, the US Dollar struggles to find demand following the disappointing GDP data.
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.
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%.