Danske Research Team
Danske Bank A/S
Majors
EUR/USD: BUY AT 1.3746 FOR 1.3848 OBJECTIVE, STOP 1.3703
USD/JPY: LONG AT 102.12 FOR 104.84 OBJECTIVE, REVISED STOP 103.39
GBP/USD: LONG AT 1.6645 FOR 1.6745; STOP AT 1.6595
USD/CHF: SHORT AT .8830 FOR .8729; STOP AT .8876
AUD/USD: LONG AT .9219 FOR .9408; STOP AT .9129
USD/CAD: LONG AT 1.1025 FOR 1.1170 REVISED STOP AT 1.0995
Crosses
EUR/JPY: LONG AT 142.74 FOR 145.17 OBJECTIVE, STOP 142.41
EUR/GBP: LONG AT .8285 FOR .8400; STOP AT .8255
EUR/CHF: LONG AT 1.2190 FOR 1.2260; STOP AT 1.2158
EUR/CAD: LONG AT 1.5185 FOR 1.5405; STOP 1.5135
GBP/JPY: LONG AT 169.00 FOR 174.85; STOP REVISED AT 172.15
NZD/USD: LONG AT .8578 FOR .8785; STOP AT .8493
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Editors’ Picks
EUR/USD stays depressed near 1.0650, awaits US data and Fed verdict
EUR/USD holds lower ground near 1.0650 amid a softer risk tone and broad US Dollar strength on Wednesday. With European markets closed for Labor Day, the pair awaits the US employment data and the Fed policy announcements for the next directional move.
GBP/USD keeps losses below 1.2500 ahead of US data, Fed
GBP/USD holds lower ground below 1.2500 early Wednesday. The stronger US Dollar supports the downtick of the pair amid the cautious mood ahead of the top-tier US employment data and the all-important Fed policy announcements.
Gold sellers keep sight on $2,223 and the Fed decision
Gold price is catching a breather early Wednesday, having hit a four-week low at $2,285 on Tuesday. Traders refrain from placing fresh directional bets on Gold price, anticipating the all-important US Federal Reserve interest rate decision due later in the day.
Ethereum dips below key level as Hong Kong ETFs underperform
Ethereum experienced a further decline on Tuesday following a disappointing first-day trading volume for Hong Kong's spot Bitcoin and ETH ETFs. This comes off the back of increased long liquidations and mixed whale activity surrounding the top altcoin.
ADP Employment Change Preview: US private sector expected to add 179K new jobs in April
The ADP report is expected to show the US private sector added 179K jobs in April. A tight labour market and sticky inflation support the Fed’s tight stance. The US Dollar seems to have entered a consolidative phase.