Risk aversion still ruling. Most market has just left, are leaving or just about to leave fourth wave consolidations (often in the shape of triangles) calling for one more cycle low/high in most asset classes before its correction time.
EURUSD strong rejection from the 233d ma band => 1.31/33 next objective, likely to be underpinned by a break of the Fra/Ger 10y spread upside triangle, AUD/USD finally managed to close below the 233d ma band, EURSEK confirmed a correction low yday, now heading for 9.35-45, EURNOK about to exit a weekly congestion for 8.00, USD/SEK/NOK thus preferred longs. Dollar/emerging markets going ballistic…BONDS heading for new peaks in price, Equities seen breaking lower for fresh lows, OIL and GOLD drifting lower.
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Tech team
Skandinaviska Enskilda Banken AB