The dollar and the yen continue to perform in tandem. The rest (EUR, GBP, Scandies, EMs & Com’s) are paying the price. EURUSD is testing a medium-term 1.2460/50 extension ref while GBPUSD is knocking on a key 1.5603 ref – under which the yearly low would become exposed… EURSEK ought to lift to test resistance pockets at 9.0180 % 9.0520\50… USDSEK is of good help it seems, soon trading above 7.24 and closer to 7.34 before long… EURNOK respected support and also ought to lift – with prospects of Brent Crude falling further… Keep an eye on 7.5480 & 7.5735 and $105.90/bbl… Affecting the CRB index which remains in a vertical tailspin… The correctional advance in the S&P500 front contract is running out of steam from its ideal 1333 objective… Below 1294 would argue for a <1287 print (possibly as low as 1270 or even 1240)… Bonds are grinding higher and could continue doing so for some time yet… EURPLN is soon breaking it bullish triangle – 4.3950 is short-term key… Also USDBRL is thought to have passed a correctional low and set to advance through 2.00 and extend closer to 2.05…
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SEB tech team