Danske Research Team
Danske Bank A/S
Majors
EUR/USD: SHORT AT 1.3412 FOR 1.3127; REVISE STOP AT 1.3238
USD/JPY: LONG AT 103.54 FOR REVISED 105.45; REVISE STOP AT 103.35
GBP/USD: SHORT AT 1.6650 FOR 1.6460; REVISE STOP AT 1.6605
USD/CHF: LONG AT .9121 FOR .9226 OBJECTIVE, REVISED STOP .9101
AUD/USD: SHORT AT .9291 FOR .9203, STOP AT .9350
USD/CAD: LONG AT 1.0900 FOR REVISED 1.1027; REVISE STOP AT 1.0925
Crosses
EUR/JPY: POSSIBLY SELL
EUR/GBP: POSSIBLY SELL
EUR/CHF: LOOK TO SELL
EUR/CAD: SHORT AT 1.4620 FOR 1.4410, STOP AT 1.4595
GBP/JPY: BUY AT 171.95 FOR 173.50, STOP AT 171.50
NZD/USD: SHORT AT .8400 FOR .8282; STOP AT .8440
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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 above 156.00 following suspected intervention
USD/JPY recovers ground and trades above 156.00 after sliding to 154.50 on what seemed like a Japanese FX intervention. Later this week, 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.
Week Ahead: Bitcoin could surprise investors this week Premium
Two main macroeconomic events this week could attempt to sway the crypto markets. Bitcoin (BTC), which showed strength last week, has slipped into a short-term consolidation.
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.