Risk aversion is on the fore and euro correction against its key peers seems to be a short-lived affair… EURUSD under 1.4002 would argue for fresh lows… The expected correction in EURCHF crashed before airborn and a print below the recent 1.2323 low is sought… AUDUSD is testing key supports just below – in line with a dangerous larger bearish set-up… The all-ordinaries index is also impulsively falling… And so is the S&P500 index now probing a key support area… EURSEK buyers keep responding and a break above 8.9620 would expose the +9s… EURNOK more balanced, but USDNOK (& USDSEK)looking staged to test recent tops… Elsewhere the dollar looks ready to score against currencies like the rand and the loonie… In the EM universe the zloty still looks vulnerable… German and US 10y bonds both trades at important levels and should be closely watched…
Tech Team
Skandinaviska Enskilda Banken AB