Impulsive moves in most asset classes but also a slowdown late in the session, reducing risk ahead of the G20?
EURUSD almost made it into the 1.3150/3350 support zone, small bounce looks like short covering so expect a more thorough test early next week. AUD took a real hit and has already arrived at next support 0.96/97, EM should continue to underperform (equities, bonds & ccy’s) with the MSCI EM/Global ratio yesterday triggering a new sell signal, EURSEK pause (buying opportunity) before heading for 9.3550 & 9.45, EURNOK same pause and then 8.00, USD/SEK/NOK near short term targets, Commodities took a real hit with copper down 7%, Gold falling down into its 55d ma band and OIL finally catching up, Equities now breaking down to fresh cycle lows, Bonds look range bound.
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Tech team
Skandinaviska Enskilda Banken AB