Dollar seems to be increasingly in demand with the Dollar index soon at its previous peak, an important junction confirming that we are leaving the base area and entering a trending phase. The German bund price action also of great interest as raising the question whether the trend now is rolling over to the downside??
EURUSD expect more downside pressure into the 1.3145/3240 support, AUD/USD continues lower towards 0.94 (key support), EURSEK next 9.2780 and USDSEK 6.9925, both underpinned by falling Sw equities, esp. industrials. EURNOK a down and up move yday further enhance probability of a soon neckline test. EM continues to suffer with esp USDTRY at v v imp levels, Equities continues lower after having broken the 55d ma band supp, Oil taking a small breather but is soon seen lower again, Gold stopped falling but pause or base??
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Tech team
Skandinaviska Enskilda Banken AB