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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Editors’ Picks
EUR/USD clings to recovery gains near 1.0850 ahead of Fedspeak
EUR/USD trades in positive territory near 1.0850 on Friday following a four-day slide. China's stimulus optimism and a broad US Dollar correction help the pair retrace the dovish ECB decision-induced decline. All eyes remain on the Fedspeak.
GBP/USD pares UK data-led gains at around 1.3050
GBP/USD is trading at around 1.3050 in the second half of the day on Friday, supported by upbeat UK Retail Sales data and a pullback seen in the US Dollar. Later in the day, comments from Federal Reserve officials will be scrutinized by market participants.
Gold at new record peaks above $2,700 on increased prospects of global easing
Gold (XAU/USD) establishes a foothold above the $2,700 psychological level on Friday after piercing through above this level on the previous day, setting yet another fresh all-time high. Growing prospects of a globally low interest rate environment boost the yellow metal.
Crypto ETF adoption should pick up pace despite slow start, analysts say
Big institutional investors are still wary of allocating funds in Bitcoin spot ETFs, delaying adoption by traditional investors. Demand is expected to increase in the mid-term once institutions open the gates to the crypto asset class.
Canada debates whether to supersize rate cuts
A fourth consecutive Bank of Canada rate cut is expected, but the market senses it will accelerate the move towards neutral policy rates with a 50bp step change. Inflation is finally below target and unemployment is trending higher, but the economy is still growing.
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