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FxWirePro: Danish Krone rallies to 2-1/2 week peak on better than expected trade data 

  • The Danish Krone surged to a 2-1/2 week peak following the release of upbeat economic data and broad-based U.S. dollar weakness.
     
  • Denmark's trade surplus increased to DKK 8.9 billion in September from DKK 8.0 billion in the same month a year earlier, its largest trade surplus since November last year. 
     
  • Separate data showed Denmark's current account surplus rose to DKK 19.1 billion in September from DKK 9.9 billion in the previous month. 
     
  • The dollar hit a 10-week low as a potentially divided U.S. government with Republicans in control of the Senate may mean a smaller fiscal stimulus package. 
     
  • USD/DKK is trading 0.05 percent lower at 6.2754, having hit low of 6.2644 earlier, its lowest since October 21.
     
  • Immediate resistance is located at 6.3105, close above could take it till 6.3242 (7-DMA). 
     
  • On the downside, support is seen at 6.2584 and any break below will take it till 6.2404. 
  • Market Data
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