Danske Research Team
Danske Bank A/S
Majors
EUR/USD: SHORT AT 1.3712 FOR 1.3552; REV STOP AT 1.3691
USD/JPY: BUY AT 101.78 FOR 102.54 OBJECTIVE, STOP 101.34
GBP/USD: LONG AT 1.6875 FOR 1.7044; STOP AT 1.6795
USD/CHF: LONG AT .8925 FOR .9038; STOP AT .8875
AUD/USD: SHORT AT .9240 FOR .9136; STOP AT .9297
USD/CAD: SELL AT 1.0877 FOR 1.0782; STOP AT 1.0917
Crosses
EUR/JPY: SHORT AT 139.20 FOR 138.09 OBJECTIVE, STOP 140.05
EUR/GBP: SELL AT .8125 FOR .8035; STOP AT .8165
EUR/CHF: BUY AT 1.2192 FOR 1.2260; STOP AT 1.2172
EUR/CAD: POSSIBLY SELL
GBP/JPY: BUY AT 170.85 FOR 172.75 STOP AT 170.15
NZD/USD: SELL AT .8585 FOR .8483; STOP AT .8640
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Editors’ Picks
EUR/USD retreats toward 1.0850 on modest USD recovery
EUR/USD stays under modest bearish pressure and trades in negative territory at around 1.0850 after closing modestly lower on Thursday. In the absence of macroeconomic data releases, investors will continue to pay close attention to comments from Federal Reserve officials.
GBP/USD holds above 1.2650 following earlier decline
GBP/USD edges higher after falling to a daily low below 1.2650 in the European session on Friday. The US Dollar holds its ground following the selloff seen after April inflation data and makes it difficult for the pair to extend its rebound. Fed policymakers are scheduled to speak later in the day.
Gold climbs to multi-week highs above $2,400
Gold gathered bullish momentum and touched its highest level in nearly a month above $2,400. Although the benchmark 10-year US yield holds steady at around 4.4%, the cautious market stance supports XAU/USD heading into the weekend.
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Week ahead: Flash PMIs, UK and Japan CPIs in focus – RBNZ to hold rates
After cool US CPI, attention shifts to UK and Japanese inflation. Flash PMIs will be watched too amid signs of a rebound in Europe. Fed to stay in the spotlight as plethora of speakers, minutes on tap.