Danske Research Team
Danske Bank A/S
Majors
EUR/USD: SHORT AT 1.2605 FOR REVISED 1.2396; STOP LOWERED TO 1.2550
USD/JPY: BUY AT 111.52 FOR 113.94 OBJECTIVE, STOP 110.90
GBP/USD: SELL AT 1.6055 FOR 1.5875; STOP AT 1.6100
USD/CHF: LONG AT .9555 FOR REVISED .9753, RAISE STOP TO .9542
AUD/USD: SELL AT .8772 FOR INITIAL .8642, STOP AT .8859
USD/CAD: LONG AT 1.1195 FOR 1.1385 OBJ, REVISE STOP TO 1.1180
Crosses
EUR/JPY: BUY AT 139.26 FOR 142.64 OBJECTIVE, STOP 137.98
EUR/GBP: SHORT AT .7920 FOR REVISED .7756; STOP AT .7930
EUR/CHF: SHORT AT 1.2080 FOR 1.2021; STOP AT 1.2099
EUR/CAD: SHORT AT 1.4215 FOR 1.3980; REVISE STOP AT 1.4240
GBP/JPY: RE-BUY ON DIPS
NZD/USD: SHORT AT .7870 FOR .7708; REVISE STOP AT .7850
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Editors’ Picks
EUR/USD climbs to 10-day highs above 1.0700
EUR/USD gained traction and rose to its highest level in over a week above 1.0700 in the American session on Tuesday. The renewed US Dollar weakness following the disappointing PMI data helps the pair stretch higher.
GBP/USD extends recovery beyond 1.2400 on broad USD weakness
GBP/USD gathered bullish momentum and extended its daily rebound toward 1.2450 in the second half of the day. The US Dollar came under heavy selling pressure after weaker-than-forecast PMI data and fueled the pair's rally.
Gold rebounds to $2,320 as US yields turn south
Gold reversed its direction and rose to the $2,320 area, erasing a large portion of its daily losses in the process. The benchmark 10-year US Treasury bond yield stays in the red below 4.6% following the weak US PMI data and supports XAU/USD.
Here’s why Ondo price hit new ATH amid bearish market outlook Premium
Ondo price shows no signs of slowing down after setting up an all-time high (ATH) at $1.05 on March 31. This development is likely to be followed by a correction and ATH but not necessarily in that order.
Germany’s economic come back
Germany is the sick man of Europe no more. Thanks to its service sector, it now appears that it will exit recession, and the economic future could be bright. The PMI data for April surprised on the upside for Germany, led by the service sector.