Danske Research Team
Danske Bank A/S
Majors
EUR/USD: SHORT AT 1.2320 FOR 1.2134; STOP AT 1.2401
USD/JPY: LONG AT 118.15 FOR REVISED 122.62; STOP REVISED AT 120.20
GBP/USD: SELL AT 1.5615 FOR 1.5427; STOP AT 1.5700
USD/CHF: LONG AT .9760 FOR .9898; STOP AT .9695
AUD/USD: SHORT AT .8566 FOR REVISED .8083, STOP AT .8480
USD/CAD: BUY AT 1.1340 FOR 1.1680 STOP AT 1.1260
Crosses
EUR/JPY: LOOK TO BUY 148.60/65
EUR/GBP: SHORT AT .7955 FOR .7799; STOP AT .7950
EUR/CHF: LONG AT 1.2029 FOR 1.2082; STOP AT 1.2007
EUR/CAD: LOOK TO SELL
GBP/JPY: LONG AT 185.50 FOR REVISED 191.75; REVISED STOP AT 187.20
NZD/USD: SHORT AT .7855 FOR REVISED .7599; REVISE STOP AT .7735
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USD/JPY is trading tightly just below the 156.00 handle, hugging multi-year highs as the Yen continues to deflate. The pair is trading into 30-plus year highs, and bullish momentum is targeting all-time record bids beyond 160.00, a price level the pair hasn’t reached since 1990.
AUD/USD stands firm above 0.6500 with markets bracing for Aussie PPI, US inflation
The Aussie Dollar begins Friday’s Asian session on the right foot against the Greenback after posting gains of 0.33% on Thursday. The AUD/USD advance was sponsored by a United States report showing the economy is growing below estimates while inflation picked up.
Gold soars as US economic woes and inflation fears grip investors
Gold prices advanced modestly during Thursday’s North American session, gaining more than 0.5% following the release of crucial economic data from the United States. GDP figures for the first quarter of 2024 missed estimates, increasing speculation that the US Fed could lower borrowing costs.
Ethereum could remain inside key range as Consensys sues SEC over ETH security status
Ethereum appears to have returned to its consolidating move on Thursday, canceling rally expectations. This comes after Consensys filed a lawsuit against the US SEC and insider sources informing Reuters of the unlikelihood of a spot ETH ETF approval in May.
Bank of Japan expected to keep interest rates on hold after landmark hike
The Bank of Japan is set to leave its short-term rate target unchanged in the range between 0% and 0.1% on Friday, following the conclusion of its two-day monetary policy review meeting for April. The BoJ will announce its decision on Friday at around 3:00 GMT.