EUR/SEK traded distinctively higher yesterday and should test should test 8.6850 in the process. 8.63 should be supportive now… USD/SEK is extending the move for a >6.72 test… JPY/SEK is also higher, correcting an earlier downside stretch and trades with targets at 8.22 & 8.26 fully in sight… EUR/NOK is likely extending yesterday’s upmove into the 7.38s… NOK/SEK failed to break support and is seemingly headed for another >1.18 attempt… EUR/USD & EURGBP added bearish key-day reversals behind yesterday and EUR/JPY under 105.70 would call for ~104.50… EUR/CHF is stuck at 1.2035 support… So it seems like the euro is back as an underdog – but still on top of the Scandinavians… In the EM space we highlight respected support below in USD/ZAR which should pave the way for the next leg higher… EUR/PLN shows growing hesitance to trade much lower, so a turnaround is increasingly likely… The Shanghai composite index is bearishly extending losses and 1920 is the next important ref below to watch out for… The S&P500 index is also turning moderately sour from within resistance and 1377 must be monitored again… US & German 10y tenors look like winners again with refs at 134-11 & 142.50 to watch in the Dec contracts… Brent Crude remains confined to range…
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SEB tech team