EZ worries escalated yesterday (the €stoxx bank index having been the canary in the mine) with accelerating losses in the equity markets. EZ bond spreads for ITA & SPA vs GER broke higher and the € came under some pressure, especially against the yen. Gold broke higher.
EURUSD an ended upside reaction has again set focus at the 1.3565/75 support, USDJPY begun taking out stops as support was eroded, EURSEK sunk a bit deeper than expected and it still remains to be seen if the 9.19/22 area will hold, USDSEK primary downside correction target met so upside potential should be returning, EURNOK in a 8.37-43 range however with an intra range upside bias, NOKSEK one more leg, 1.0950ish, before turning higher, USDTRY a 2nd attempt to exit the bull flag underway, BUNDS a new trend high in price and a new short term a pause, €STOXX broke an important support not to mention what Portuguese stocks did, BRENT finally saw returning buyers and GOLD broke higher.
Read the full report: Technical Alert