Danske Research Team
Danske Bank A/S
Majors
EUR/USD: SELL AT 1.3615 FOR REVISED 1.3477; REVISE STOP AT 1.3695
USD/JPY: REVISE BUY AT 101.80 FOR 103.02; STOP AT 101.35
GBP/USD: LONG AT 1.6990 FOR 1.7136; STOP AT 1.6980
USD/CHF: BUY AT .8940 FOR .9064 OBJECTIVE, STOP .8882
AUD/USD: MISSED BUY AT .9365, LOOK TO BUY DIPS
USD/CAD: LOOK TO SELL
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, REVISED STOP 1.4790
GBP/JPY: LONG AT 171.10 FOR 174.85 INITIALLY; STOP AT 172.40
NZD/USD: LONG AT .8705 FOR REVISED .8842; STOP AT .8635
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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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