The scence continues to be dominated by rolling QE2 backwards i.e. buying dollars and basically selling the rest (except CHF & JPY). €UR is expected to fall further putting pressure on EURUSD, EURJPY etc. AUDUSD has broken its key support 1.0530, EURSEK heading for 9.29 whereas EURNOK might pause its decline, however still putting upward pressure on NOKSEK, USDTRY trades well above its neckline break, OIL has triggered the pointed at head and shoulders peak and should thus soon pass the $100 hurdle, Equites still seen lower and €stoxx50 is in a very vulnerable position given the kiss and goodbye formation.
Tech team
Skandinaviska Enskilda Banken AB