Danske Research Team
Danske Bank A/S
Interested in more FX key technical levels? Take a look at Luc Luyet's daily technical outlook.
Majors
EUR/USD: SELL AT 1.1008 FOR INITIAL 1.0646, STOP 1.1130
USD/JPY: LONG AT 123.00 FOR 124.63, STOP AT 122.19
GBP/USD: REMOVE BUY AT 1.5034 FOR 1.5228; LOOK TO SELL
USD/CHF: BUY AT .9840 FOR 1.0180, STOP .9754
AUD/USD: LONG AT .7225 FOR .7450; STOP AT .7150
USD/CAD: LONG AT 1.3150 FOR REVISED 1.3557, STOP RAISED TO 1.3270
Crosses
EUR/JPY: BUY AT 132.75 FOR 136.39, STOP AT 130.95
EUR/GBP: LONG AT .7180 FOR .7377; STOP AT .7093
EUR/CHF: LOOK TO BUY
EUR/CAD: POSS BUY
GBP/JPY: LONG AT 185.65 FOR 188.81; STOP AT 184.95
NZD/USD: LONG AT .6640 FOR .6792; STOP AT .6590
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Editors’ Picks
EUR/USD stays in tight channel above 1.0750
EUR/USD continues to fluctuate in a narrow band slightly above 1.0750 after posting small gains on Monday. Disappointing Factory Orders data from Germany limits the Euro's gains as investors keep a close eye on comments from central bankers.
GBP/USD retreats below 1.2550 as USD recovers
GBP/USD stays under modest bearish pressure and trades below 1.2550 in the European session on Tuesday. The cautious market stance helps the USD hold its ground and doesn't allow the pair to regain its traction. The Bank of England will announce policy decisions on Thursday.
Gold declines below $2,320 amid renewed US Dollar demand
Gold trades in negative territory below $2,320 as the souring mood allows the USD to find demand on Tuesday. Nevertheless, the benchmark 10-year US Treasury bond yield stays below 4.5% and helps XAU/USD limit its losses.
Ripple lawsuit develops with SEC reply under seal, XRP holders await public redacted versions
Ripple lawsuit’s latest development is SEC filing, under seal. The regulator has filed its reply brief and supporting exhibits and the documents will be made public on Wednesday, May 8.
The impact of economic indicators and global dynamics on the US Dollar
Recent labor market data suggest a cooling economy. The disappointing job creation and rising unemployment hint at a slackening demand for labor, which, coupled with subdued wage growth, could signal a slower economic trajectory.