Danske Research Team
Danske Bank A/S
Majors
EUR/USD: SHORT AT 1.3080 FOR 1.2962 OBJECTIVE, STOP 1.3133
USD/JPY: LONG AT 97.76 FOR 100.43 OBJ, REVISED STOP 98.90
GBP/USD: LOOK TO BUY NEAR 1.5176-99 AREA
USD/CHF: BUY AT .9301 FOR .9413 OBJECTIVE, STOP .9274
AUD/USD: SHORT AT 1.0345 FOR 1.0202; STOP AT 1.0369
USD/CAD: LONG AT 1.0235 FOR 1.0343, STOP AT 1.0170
Crosses
EUR/JPY: AWAIT TRADE OPPORTUNITY, POSS BUY LOWER
EUR/GBP: BUY AT .8540 FOR A .8685 OBJECTIVE, STOP AT .8485
EUR/CHF: BUY AT 1.2164 FOR A 1.2218 OBJECTIVE; STOP AT 1.2148
EUR/CAD: SHORT AT 1.3430 FOR 1.3200 OBJ, STOP 1.3540
GBP/JPY: BUY AT 150.90 FOR 154.85, STOP AT 149.45
NZD/USD: SHORT AT .8470 FOR A .8352 OBJECTIVE, STOP AT .8495
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EUR/USD lost its traction and retreated slightly below 1.0700 in the American session, erasing its daily gains in the process. Following a bearish opening, the US Dollar holds its ground and limits the pair's upside ahead of the Fed policy meeting later this week.
USD/JPY recovers toward 157.00 following suspected intervention
USD/JPY recovers ground and trades above 156.50 after sliding to 154.50 on what seemed like a Japanese FX intervention. Later this week, the Federal Reserve's policy decisions and US employment data could trigger the next big action.
Gold holds steady above $2,330 to start the week
Gold fluctuates in a relatively tight channel above $2,330 on Monday. The benchmark 10-year US Treasury bond yield corrects lower and helps XAU/USD limit its losses ahead of this week's key Fed policy meeting.
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