Danske Research Team
Danske Bank A/S
Majors
EUR/USD: SHORT AT 1.1320 FOR 1.1000; LOWER STOP TO 1.1392
USD/JPY: LONG AT 118.90 FOR REVISED 120.82; REVISED STOP AT 118.59
GBP/USD: BUY AT 1.5365 FOR 1.5621; STOP AT 1.5305
USD/CHF: LONG AT .8755 FOR REVISED .9602; STOP RAISED to .9445
AUD/USD: SELL AT .7828 FOR INITIAL .7698 OBJECTIVE, STOP .7880
USD/CAD: LONG AT 1.2495 FOR 1.2800 STOP AT 1.2380
Crosses
EUR/JPY: SHORT AT 134.18 FOR 132.00 OBJECTIVE, STOP 134.80
EUR/GBP: SELL AT .7272 FOR .7114; REVISED STOP AT .7305
EUR/CHF: BUY AT 1.0620 FOR 1.0800; STOP AT 1.0553
EUR/CAD: SELL AT 1.4065 FOR 1.3805 OBJ, STOP 1.4155
GBP/JPY: LONG AT 182.00 FOR 187.30; REVISED STOP AT 183.40
NZD/USD: BUY AT .7520 FOR .7619; STOP AT .7470
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EUR/USD is paring gains to near 1.0700 in the European session on Monday. The pair stays supported by a softer US Dollar, courtesy of the USD/JPY sell-off and a risk-friendly market environment. Germany's inflation data is next in focus.
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.