Danske Research Team
Danske Bank A/S
Majors
EUR/USD: POSS BUY 1.2715/00 FOR 1.2810/15
USD/JPY: LONG AT 107.30 FOR 109.25; STOP 107.35
GBP/USD: LONG AT 1.6140 FOR 1.6287; STOP AT 1.6080
USD/CHF: LOOK TO BUY .9440/35
AUD/USD: LONG AT .8820 FOR .8970; STOP AT .8780
USD/CAD: LONG AT 1.1205 FOR 1.1418 STOP AT 1.1145
Crosses
EUR/JPY: LONG AT 136.80 FOR REVISED 138.54; STOP AT 136.48
EUR/GBP: SHORT AT .7920 FOR .7851 OBJECTIVE; STOP AT .7950
EUR/CHF: SHORT AT 1.2080 FOR 1.2021; STOP AT 1.2099
EUR/CAD: POSSIBLY SELL
GBP/JPY: LONG AT 173.50 FOR 175.90; STOP AT 173.65
NZD/USD: BUY AT .7905 FOR .8036; STOP AT .7840
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Editors’ Picks
EUR/USD holds positive ground above 1.0700, eyes on German CPI data
EUR/USD trades on a stronger note around 1.0710 during the early Monday. The weaker US Dollar below the 106.00 mark provides some support to the major pair. All eyes will be on the Federal Reserve monetary policy meeting on Wednesday, with no change in rate expected.
USD/JPY recovers 156.00 after testing 155.50 on likely Japanese intervention
USD/JPY has recovered some ground above 156.00 after crashing to 155.00 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. Holiday-thinned trading exaggerates the USD/JPY price action.
Gold tests critical daily support line, will it defend?
Gold price is seeing a negative start to a new week on Monday, having booked a weekly loss. Gold price bears the brunt of resurgent US Dollar (USD) demand and a risk-on market mood amid Japanese holiday-thinned market conditions.
XRP plunges to $0.50, wipes out recent gains as Ripple community debates ETHgate impact
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.