Euro weakness and dollar strength accross the board yesterday. The market is probably a bit stretched in the very short term hence a day of (at least until NFP) congestion and consolidation likely. Stay with or seek new dollar longs. EURUSD fell down to yesterday’s key support, 1.3034 but should after a minor bounce explore the 1.2970 area, EURJPY seen to return into its 233d Bollinger bands i.e. declining at least below 112.80, CABLE short term propped up by support in the 1.60/61 area (sell up tics into the high 1.61’s), EURSEK unexpectededly fell below 8.54 => 8.50 next, USDSEK spring bottom continues to guid us higher, EURNOK at a key junction (ending a correction or confirming new historical lows?), $ index monitor 80.66 very closely (bullish confirmation if breaking), USDZAR small congestion then higher, BUNDS down slightly below primary target, US notes passing the Dec low..Oct low next?, S&P500 responed to the key resistance and OIL slid back some but still seen higher.
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SEB tech team