Danske Research Team
Danske Bank A/S
Majors
EUR/USD: SHORT AT 1.3570 FOR 1.3448; STOP AT 1.3622
USD/JPY: LOOK TO SELL 102.10/15 FOR 101.60
GBP/USD: LONG AT 1.6990 FOR 1.7136; STOP AT 1.6918
USD/CHF: LONG AT .8993 FOR A .9082 TARGET; REVISED STOP AT .8952
AUD/USD: BUY AT .9362 FOR .9461 OBJECTIVE, STOP .9317
USD/CAD: LONG AT 1.0892 FOR 1.1053 STOP AT 1.0825
Crosses
EUR/JPY: SHORT AT 138.58 FOR 137.38 OBJECTIVE, STOP 138.93
EUR/GBP: SHORT AT .8015 FOR .7887; STOP AT .8065
EUR/CHF: SHORT AT 1.2190 FOR 1.2141; STOP AT 1.2205
EUR/CAD: SHORT AT 1.4750 FOR 1.4410 OBJ, STOP 1.4840
GBP/JPY: LONG AT 171.10 FOR 174.85 INITIALLY; REVISED STOP AT 171.90
NZD/USD: REVISE BUY AT .8705 FOR REVISED .8842; STOP AT .8635
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EUR/USD is paring gains to near 1.0700 in the European session on Monday. The pair stays supported by a softer US Dollar, courtesy of the USD/JPY sell-off and a risk-friendly market environment. Germany's inflation data is next in focus.
USD/JPY recovers after testing 154.50 on likely Japanese intervention
USD/JPY is recovering ground after sliding to 154.50 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. Focus shifts to the US employment data and the Fed decision later this week.
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Week ahead: FOMC and jobs data in sight
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