No major moves found overnight with the EUR going nowhere, however the Antipodeans continues to lose ground, printing three wave corrective patterns on each and every upside attempt (60 min chart), EM currencies are on a weakening path with for instance EURPLN posting the biggest single day advance since Sep 2011, USDBRL extending gains after exit of its bull triangle, negative EM moves are also underpinned by a break lower in MSCI em equities (China walking on the razor’s edge i.e. on the 1990’s support line), EURSEK possible completed its upward correction yesterday but must break 8.31/32 to increase confidence, EURNOK builds confidence of being in a bear triangle, NOKSEK sharply higher and more upside liked, BUNDS minor reaction after failing above the triangle, S&P 500 still clouded but drifting toward support, OIL no strong conviction for the day.
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SEB tech team