Danske Research Team
Danske Bank A/S
Majors
EUR/USD: SHORT AT 1.2940 FOR 1.2788; STOP AT 1.3011
USD/JPY: LONG AT 106.85 FOR REVISED 108.45; STOP AT 106.60
GBP/USD: SHORT AT 1.6260 FOR INITIAL 1.6052; STOP AT 1.6345
USD/CHF: LONG AT .9350 FOR .9478; STOP AT .9299
AUD/USD: POSSIBLY SELL HIGHER
USD/CAD: POSSIBLE LOOK TO BUY
Crosses
EUR/JPY: LONG AT 138.75 FOR 140.09; STOP AT 138.20
EUR/GBP: POSSIBLY BUY
EUR/CHF: LONG AT 1.2085 FOR 1.2155; STOP AT 1.2065
EUR/CAD: SHORT AT 1.4325 FOR 1.4115 OBJ, STOP 1.4425
GBP/JPY: LOOK TO RE-BUY
NZD/USD: LOOK TO SELL
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Editors’ Picks
EUR/USD holds above 1.0750 to start the week
EUR/USD trades in positive territory above 1.0750 in the European session on Monday. The US Dollar struggles to find demand following Friday's disappointing labor market data and helps the pair hold its ground.
GBP/USD clings to small gains above 1.2550
Following Friday's volatile action, GBP/USD edges highs and trades in the green above 1.2550. Soft April jobs report from the US and the modest improvement seen in risk mood make it difficult for the US Dollar to gather strength.
Gold price rebounds on downbeat NFP data, eyes on Fedspeak
Gold price (XAU/USD) snaps the two-day losing streak during the European session on Monday. The weaker-than-expected US employment reports have boosted the odds of a September rate cut from the US Fed.
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Week ahead: BoE and RBA decisions headline a calm week
Bank of England meets on Thursday, unlikely to signal rate cuts. Reserve Bank of Australia could maintain a higher-for-longer stance. Elsewhere, Bank of Japan releases summary of opinions.