Danske Research Team
Danske Bank A/S
Majors
EUR/USD: SHORT AT 1.3412 FOR 1.3249 OBJECTIVE, STOP 1.3457
USD/JPY: LOOK TO SELL 102.75/80
GBP/USD: SELL AT 1.6750 FOR 1.6657; STOP AT 1.6805
USD/CHF: LONG AT .8909 FOR REVISED .9156; STOP AT .9028
AUD/USD: POSSIBLY SELL
USD/CAD: LONG AT 1.0915 FOR REVISED 1.1027 REVISED STOP AT 1.0895
Crosses
EUR/JPY: LONG AT 136.42 FOR 137.71 OBJECTIVE, REVISE STOP 136.35
EUR/GBP: LONG AT .7955 FOR .8082; STOP AT .7900
EUR/CHF: SELL AT 1.2139 FOR 1.2102; STOP AT 1.2256
EUR/CAD: POSSIBLY BUY
GBP/JPY: SHORT AT 171.75 FOR 169.50, STOP AT 172.05
NZD/USD: SHORT AT .8490 FOR .8343; STOP AT .8500
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Editors’ Picks
EUR/USD clings to daily gains above 1.0650
EUR/USD gained traction and turned positive on the day above 1.0650. The improvement seen in risk mood following the earlier flight to safety weighs on the US Dollar ahead of the weekend and helps the pair push higher.
GBP/USD recovers toward 1.2450 after UK Retail Sales data
GBP/USD reversed its direction and advanced to the 1.2450 area after touching a fresh multi-month low below 1.2400 in the Asian session. The positive shift seen in risk mood on easing fears over a deepening Iran-Israel conflict supports the pair.
Gold holds steady at around $2,380 following earlier spike
Gold stabilized near $2,380 after spiking above $2,400 with the immediate reaction to reports of Israel striking Iran. Meanwhile, the pullback seen in the US Treasury bond yields helps XAU/USD hold its ground.
Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium
Bitcoin price shows no signs of directional bias while it holds above $60,000. The fourth BTC halving is partially priced in, according to Deutsche Bank’s research.
Week ahead – US GDP and BoJ decision on top of next week’s agenda
US GDP, core PCE and PMIs the next tests for the Dollar. Investors await BoJ for guidance about next rate hike. EU and UK PMIs, as well as Australian CPIs also on tap.