Danske Research Team
Danske Bank A/S
Majors
EUR/USD: SHORT AT 1.1570 FOR 1.1376, REVISED STOP AT 1.1669
USD/JPY: LONG AT 118.05 FOR 119.97 OBJECTIVE, STOP 117.55
GBP/USD: SELL AT 1.5270 FOR INITIAL 1.5034 OBJECTIVE; STOP AT 1.5340
USD/CHF: LONG AT .8730 FOR .8914 STOP AT .8680
AUD/USD: LONG AT .8155 FOR .8378, STOP AT .8102
USD/CAD: BUY AT 1.2015 FOR 1.2272 STOP AT 1.1915
Crosses
EUR/JPY: LOOK TO SELL 138.60/70
EUR/GBP: SHORT AT .7658 FOR .7553; REVISE STOP AT .7698
EUR/CHF: SHORT AT 1.0165 FOR .9322; STOP AT 1.0305
EUR/CAD: SELL AT 1.4050 FOR 1.3650 OBJ, STOP 1.4195
GBP/JPY: LONG AT 178.90 FOR 182.00; STOP AT 177.50
NZD/USD: REVISE SELL AT .7740 FOR .7560; STOP AT .7790
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Editors’ Picks
EUR/USD retreats toward 1.0850 on modest USD recovery
EUR/USD stays under modest bearish pressure and trades in negative territory at around 1.0850 after closing modestly lower on Thursday. In the absence of macroeconomic data releases, investors will continue to pay close attention to comments from Federal Reserve officials.
GBP/USD holds above 1.2650 following earlier decline
GBP/USD edges higher after falling to a daily low below 1.2650 in the European session on Friday. The US Dollar holds its ground following the selloff seen after April inflation data and makes it difficult for the pair to extend its rebound. Fed policymakers are scheduled to speak later in the day.
Gold climbs to multi-week highs above $2,400
Gold gathered bullish momentum and touched its highest level in nearly a month above $2,400. Although the benchmark 10-year US yield holds steady at around 4.4%, the cautious market stance supports XAU/USD heading into the weekend.
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Week ahead: Flash PMIs, UK and Japan CPIs in focus – RBNZ to hold rates
After cool US CPI, attention shifts to UK and Japanese inflation. Flash PMIs will be watched too amid signs of a rebound in Europe. Fed to stay in the spotlight as plethora of speakers, minutes on tap.