Danske Research Team
Danske Bank A/S
Majors
EUR/USD: SHORT AT 1.2940 FOR 1.2788; REVISED STOP AT 1.2945
USD/JPY: LONG AT 106.85 FOR REVISED 109.19; REVISE STOP AT 107.37
GBP/USD: BUY AT 1.6220 FOR 1.6418; STOP AT 1.6155
USD/CHF: LONG AT .9350 FOR .9478; REVISE STOP AT .9358
AUD/USD: LOOK TO SELL
USD/CAD: LOOK TO BUY
Crosses
EUR/JPY: LONG AT 138.75 FOR 140.09; REVISE STOP TO 138.90
EUR/GBP: POSSIBLY SELL
EUR/CHF: LONG AT 1.2085 FOR 1.2155; STOP AT 1.2065
EUR/CAD: SHORT AT 1.4325 FOR REVISED 1.4040 OBJ, REVISED STOP 1.4345
GBP/JPY: LONG AT 174.65 FOR 178.40; REVISED STOP AT 174.60
NZD/USD: REVISED SELL AT .8140 FOR REVISED .8000; STOP AT .8210
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Editors’ Picks
AUD/USD remained bid above 0.6500
AUD/USD extended further its bullish performance, advancing for the fourth session in a row on Thursday, although a sustainable breakout of the key 200-day SMA at 0.6526 still remain elusive.
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 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.
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.