It’s not overly exciting out there at the moment… EURUSD & EURJPY shows diverging directionals this morning with the former below 1.2945 would target the high-1.28s while the latter over 104.05 & 104.43 would target levels above last month’s high… EURGBP looks staged to try support at 0.80 again… EURNOK is also headed deeper into support, targeting 7.3580/30… EURSEK on the other hand looks slow and likely to respect support at/above 8.5475… NOKSEK as a result should extend gains, likely to and above last month’s 1.1750 high… USDCAD is also ready to score fresh highs after the shallow dip yesterday… Chinese stocks look short-term healthier than many and Shanghai C 2,193 should be monitored closely… In the EM space CZK looks exposed and to a lesser extent also PLN. Watch 25.20 & 4.1535 in those… Dec 10y Bunds & Dec 10y Notes both look healthy and 142.62 & 133-12 lie within reach… The Dec S&P500 contract is capped by the lower end of the 55day Moving Average band and should steer south before long… Dec Brent Crude is also sliding and is upholding downside pressure for a $106.80/49 test – below would call for extension closer to the $104-handle…
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SEB tech team