FxWirePro: Danish Krone nudges higher on upbeat growth data
The Danish Krone rose, hovering towards a 2-1/2 week peak hit in the prior session following the release of upbeat growth data and broad-based U.S. dollar weakness. Denmark's annual inflation rate rose to 0.4 percent in …
The Danish Krone rose, hovering towards a 2-1/2 week peak hit in the prior session following the release of upbeat growth data and broad-based U.S. dollar weakness.
Denmark's annual inflation rate rose to 0.4 percent in October after rising 0.6 percent in the previous month. On a monthly basis, consumer prices were up 0.2 percent, after a 0.1 percent drop in September. The harmonized index of consumer prices rose 0.3 percent in October, following a 0.5 percent growth in the prior month
The dollar edged lower as risk sentiment improved on news of the development of a coronavirus vaccine which raised optimism of a global economic recovery.
USD/DKK is trading 0.1 percent lower at 6.2967, having hit low of 6.2470 on Monday, its lowest since September 10.
Immediate resistance is located at 6.3188 (7-EMA), close above could take it till 6.3263 (21-EMA).
On the downside, support is seen at 6.2767 and any break below will take it till 6.2645.
