Stocks in a complete surrender with “riskier” FXers such as SEK, NOK, AUD, NZD and EMs all in a tailspin… CHF still strong and USD also benefits on this and at large also JPY… Bonds soar… Bunds are helped by ever widening Spanish & Italian spreads, but now also France speeds towards +100bps over Germany… Oil lower but could lose even more (despite the short-term stretch)…
Can NFP make it any worse???
Be careful out there…
Click here to read the full report:
http://www.easyforexnews.net/wp-content/uploads/2011/08/TA0508.pdf
Tech team
Skandinaviska Enskilda Banken AB