Danske Research Team
Danske Bank A/S
Majors
EUR/USD: SHORT AT 1.2940 FOR REVISED 1.2502; REVISED STOP 1.2666
USD/JPY: LONG AT 108.60 FOR 110.67; REVISED STOP 109.09
GBP/USD: SELL AT 1.6250 FOR 1.6052; STOP AT 1.6345
USD/CHF: LONG AT .9355 FOR .9625, STOP REVISED AT .9480
AUD/USD: SELL AT .8769 FOR .8544; STOP AT .8845
USD/CAD: LONG AT 1.1086 FOR 1.1279; REVISED STOP AT 1.1130
Crosses
EUR/JPY: LOOK TO BUY
EUR/GBP: SHORT AT .7850 FOR REVISED .7737; STOP AT .7860
EUR/CHF: SELL AT 1.2070 FOR 1.2030; STOP AT 1.2095
EUR/CAD: SHORT AT 1.4175 FOR 1.4015; REVISE STOP 1.4200
GBP/JPY: LONG AT 177.80 FOR 182.00; STOP AT 175.95
NZD/USD: SELL AT .7855 FOR REVISED .7670; STOP AT .7915
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AUD/USD: The hunt for the 0.7000 hurdle
AUD/USD quickly left behind Wednesday’s strong pullback and rose markedly past the 0.6900 barrier on Thursday, boosted by news of fresh stimulus in China as well as renewed weakness in the US Dollar.
EUR/USD refocuses its attention to 1.1200 and above
Rising appetite for the risk-associated assets, the offered stance in the Greenback and Chinese stimulus all contributed to the resurgence of the upside momentum in EUR/USD, which managed to retest the 1.1190 zone on Thursday.
Gold holding at higher ground at around $2,670
Gold breaks to new high of $2,673 on Thursday. Falling interest rates globally, intensifying geopolitical conflicts and heightened Fed easing bets are the main factors.
Bitcoin displays bullish signals amid supportive macroeconomic developments and growing institutional demand
Bitcoin (BTC) trades slightly up, around $64,000 on Thursday, following a rejection from the upper consolidation level of $64,700 the previous day. BTC’s price has been consolidating between $62,000 and $64,700 for the past week.
RBA widely expected to keep key interest rate unchanged amid persisting price pressures
The Reserve Bank of Australia is likely to continue bucking the trend adopted by major central banks of the dovish policy pivot, opting to maintain the policy for the seventh consecutive meeting on Tuesday.
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