Danske Research Team
Danske Bank A/S
Majors
EUR/USD: SHORT AT 1.3618 FOR 1.3503 OBJECTIVE, STOP 1.3667
USD/JPY: LOOK TO SELL RALLIES 101.80/90
GBP/USD: LONG AT 1.7120 FOR 1.7230; STOP AT 1.7060
USD/CHF: REVISE BUY AT .8909 FOR .9036; STOP AT .8855
AUD/USD: SHORT AT .9385 FOR .9229; STOP AT .9445
USD/CAD: SHORT AT 1.0677 FOR 1.0589 REVISED STOP AT 1.0705
Crosses
EUR/JPY: LOOK TO SELL
EUR/GBP: SHORT AT .8015 FOR .7887; STOP AT .7985
EUR/CHF: SHORT AT 1.2190 FOR REVISED 1.2123; STOP AT 1.2166
EUR/CAD: SHORT AT 1.4750 FOR 1.4410 OBJ, REVISED STOP 1.4580
GBP/JPY: LONG AT 174.15 FOR 179.20; STOP AT 173.30
NZD/USD: BUY AT .8770 FOR .8860; STOP AT .8730
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Editors’ Picks
EUR/USD holds above 1.0700 after German inflation data
EUR/USD trades modestly higher on the day above 1.0700. The data from Germany showed that the annual HICP inflation edged higher to 2.4% in April. This reading came in above the market expectation of 2.3% and helped the Euro hold its ground.
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.
Gold price holds steady above $2,335, bulls seem reluctant amid reduced Fed rate cut bets
Gold price (XAU/USD) attracts some buyers near the $2,320 area and turns positive for the third successive day on Monday, albeit the intraday uptick lacks bullish conviction.
Ripple CTO shares take on ETHgate controversy, XRP holders await SEC opposition brief filing
Ripple loses all gains from the past seven days, trading at $0.50 early on Monday. XRP holders have their eyes peeled for the Securities and Exchange Commission filing of opposition brief to Ripple’s motion to strike expert testimony.
Week ahead: FOMC and jobs data in sight
May kicks off with the Federal Open Market Committee meeting and will be one to watch, scheduled to make the airwaves on Wednesday. It’s pretty much a sealed deal for a no-change decision at this week’s meeting.