The 10y FRA/GER spread is still widening but this is currently overlookd by FX… EURUSD stands just below a thick bundle of resistance points (starting at 1.3968). Near-term action from here will be important for the future. The slide in EURGBP looks correctional and in low volumes. A 0.8730 watch is warranted… AUDJPY is moving towards a >80.27 high… EURSEK is doing nothing, while EURNOK still drifts lower to define a correctional low point… NOKSEK in this environment looks set to test 1.1900\30… The prior bullish USDCAD “Key-day reversal” is overruled and focus shifts to support in the 1.0027/0.9943 area… USDTRY is thought to extend the correction lower, ideally towards 1.7830… EURPLN must find buyers no later than 4.3270 to fully maintain an immediate upside tilt… Bonds look set to test support below (higher yield)… EuroStoxx50 has a lot of overhead wood to chop to clear resistance, but over 2394 would shift focus to 2505\2538… Brent crude looks set to test $115.70…
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Tech team
Skandinaviska Enskilda Banken AB