Danske Research Team
Danske Bank A/S
Majors
EUR/USD: BUY AT 1.3240 FOR 1.3385, STOP AT 1.3170
USD/JPY: BUY AT 88.65 FOR 89.98 OBJECTIVE, STOP 87.71
GBP/USD: BUY AT 1.6130 FOR A 1.6257 OBJECTIVE, STOP AT 1.6068
USD/CHF: REVISE SELL AT .9180 FOR .9076; STOP AT .9225
AUD/USD: LONG AT 1.0490 FOR 1.0625, REVISED STOP AT 1.0500
USD/CAD: SHORT AT .9884 FOR .9764, REV STOP AT .9889
Crosses
EUR/JPY: LOOK TO BUY
EUR/GBP: LONG AT .8112 FOR A .8225 OBJECTIVE, REVISE STOP AT .8142
EUR/CHF: LONG AT 1.2071 FOR REVISED 1.2168 OBJECTIVE, STOP AT 1.2081
EUR/CAD: BUY AT 1.3010 FOR 1.3185 STOP AT 1.2955
GBP/JPY: BUY AT 143.10 FOR 145.40 OBJECTIVE, STOP 141.45
NZD/USD: LONG AT .8345 FOR A REVISED .8527 OBJECTIVE, STOP AT .8392
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Editors’ Picks
EUR/USD holds positive ground above 1.0700, eyes on German CPI data
EUR/USD trades on a stronger note around 1.0710 during the early Monday. The weaker US Dollar below the 106.00 mark provides some support to the major pair. All eyes will be on the Federal Reserve monetary policy meeting on Wednesday, with no change in rate expected.
USD/JPY recovers 156.00 after testing 155.50 on likely Japanese intervention
USD/JPY has recovered some ground above 156.00 after crashing to 155.00 on what seemed like a Japanese FX intervention. The Yen tumbled in early trades amid news that Japan's PM lost 3 key seats in the by-election. Holiday-thinned trading exaggerates the USD/JPY price action.
Gold tests critical daily support line, will it defend?
Gold price is seeing a negative start to a new week on Monday, having booked a weekly loss. Gold price bears the brunt of resurgent US Dollar (USD) demand and a risk-on market mood amid Japanese holiday-thinned market conditions.
XRP plunges to $0.50, wipes out recent gains as Ripple community debates ETHgate impact
Ripple loses all gains from the past seven days, trading at $0.50 early on Monday. XRP holders have their eyes peeled for the Securities and Exchange Commission filing of opposition brief to Ripple’s motion to strike expert testimony.
Week ahead: FOMC and jobs data in sight
May kicks off with the Federal Open Market Committee meeting and will be one to watch, scheduled to make the airwaves on Wednesday. It’s pretty much a sealed deal for a no-change decision at this week’s meeting.