FX seems relatively slow but has anyway showed a muted reaction to improved risk appetite… EURUSD should however find resistance strong in the 1.2820-1.2830 area (if not, then at 1.28551.2880)… USDJPY has lost some upside steam and ought to – at least – re-check 80.80-80.60, other correctional candidates exist at ~80.30 & 80.10… The Nikkei225 is also facing strong resistance overhead and risks a setback, so watch 9,135 closely now since a break will most likely pull the plug on a few longs out there… GBPUSD ought to turn south from here and if/when below 1.5824, 1.5785/55 also ought to feel some heat… EURSEK is searching support in the 8.61-8.59 zone and USDSEK is doing same thing at ~6.70-6.69… EURNOK on the other hand may have seen a peak and is staged for a 7.32 test… USDCAD is falling after an earlier “UpThrust”, but should find support, either at 0.9925, or at 0.9886-0.9875… Gold looks bullishly staged to pursue resistance at $1739… EURPLN has fell back deep into a former triangle, but is thought to face bids in the 4.12-area… The 10y Dec Bund & T-notes are consolidating earlier gains, but hasn’t shown any credible signs of changing direction… The Dec S&P500 scored yesterday but is facing more resistance at 1386-1394 – likely there to hinder further immediate advance… The Jan Brent Crude contract is near-term bid, but the backdrop picture is still too blurred to draw any major conclusions from, so keep a double $109.58\114.48 watch with the market, since a firm break outside ought to lead the way…
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SEB tech team