Danske Research Team
Danske Bank A/S
Majors
EUR/USD: SHORT AT 1.3450 FOR 1.3318, STOP LOWERED TO 1.3453
USD/JPY: LONG AT 101.80 FOR 102.38; STOP AT 101.54
GBP/USD: SHORT AT 1.6990 FOR 1.6845 OBJECTIVE, REVISE STOP AT 1.7005
USD/CHF: LONG AT .8909 FOR REVISED .9134; REVISED STOP AT .9006
AUD/USD: POSSIBLY BUY LOWER
USD/CAD: BUY AT 1.0780 FOR 1.0922 OBJ, STOP 1.0725
Crosses
EUR/JPY: SHORT AT 137.05 FOR 136.02 OBJECTIVE, STOP 137.55
EUR/GBP: SELL AT .7940 FOR .7756; STOP AT .7990
EUR/CHF: SHORT AT 1.2190 FOR REVISED 1.2123; STOP AT 1.2166
EUR/CAD: SHORT AT 1.4515 FOR 1.4370 STOP AT 1.4580
GBP/JPY: LONG AT 173.00 FOR 174.55; STOP AT 172.30
NZD/USD: REVISE SELL AT .8525 FOR .8401; REVISE STOP AT .8590
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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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