FxWirePro: Danish Krone consolidates near weekly lows amid global economic recovery concerns
The Danish Krone consoldiated within narrow ranges amid growing fears over the global economic recovery from the coronavirus crisis. Data released earlier showed Denmark's trade surplus declined to DKK 7.5 billion in Jul…
The Danish Krone consoldiated within narrow ranges amid growing fears over the global economic recovery from the coronavirus crisis.
Data released earlier showed Denmark's trade surplus declined to DKK 7.5 billion in July from DKK 8.7 billion in the same month a year earlier, recording its smallest trade surplus since April.
Separate report showed Denmark's current account surplus declined to DKK 14.9 billion in July from DKK 21.4 billion in the corresponding month of the previous year, its smallest current account surplus since April.
USD/DKK is trading 0.05 percent higher at 6.3007, having hit high of 6.3163 on Friday, its highest since August 27.
Immediate resistance is located at 6.3272, close above could take it till 6.3344.
On the downside, support is seen at 6.2753 (5-DMA) and any break below will take it till 6.2651.
