Danske Research Team
Danske Bank A/S
Majors
EUR/USD: SHORT AT 1.3618 FOR REVISED 1.3390; REVISED STOP AT 1.3546
USD/JPY: SHORT AT 101.83 FOR 100.76; REVISED STOP AT 101.63
GBP/USD: SELL AT 1.7100 FOR 1.6972; STOP AT 1.7155
USD/CHF: LONG AT .8909 FOR .9064; REVISED STOP AT .8955
AUD/USD: POSSIBLY SELL
USD/CAD: SHORT AT 1.0785 FOR 1.0620 REVISED STOP AT 1.0805
Crosses
EUR/JPY: SHORT AT 137.97 FOR REVISED 136.25 OBJ, REV STOP 137.58
EUR/GBP: SHORT AT .8015 FOR REVISED .7857; STOP AT .7950
EUR/CHF: SHORT AT 1.2190 FOR REVISED 1.2123; STOP AT 1.2166
EUR/CAD: SELL AT 1.4550 FOR 1.4410 OBJ, STOP 1.4620
GBP/JPY: LOOK TO BUY
NZD/USD: SHORT AT .8700 FOR .8568; STOP/REVERSE AT .8755 FOR .8839
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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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