– Overall volumes improved on the day with Scandinavian currencies topping the G10 ranking.
– High volumes in EUR/NOK and USD/NOK, along with upside range breaks, signal that investors are not yet ready to buck the trend for NOK weakness. A high-volume down day in NOK/SEK points to further downside after Wednesday’s profit taking.
– A topping candle in AUD/CAD, along with a jump in activity, suggests a pause in the recent uptrend.
– GBP/USD volumes picked up yesterday as investors locked in profits from the down-move.
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Barclays