Greater part of Asia on holiday so calm start of the week. The £ recovery continued at full speed also on Friday making the week end as the largest single week decline in EURGBP in 2y. € negative events as narrowing s/t spreads, widening EZ bond spreads and continued out performance by US equities over EZ ones helped guiding the common ccy lower. EURUSD touched the primary target, 1.3347, so minor bounce likey, EURGBP wave pattern suggests at least one more low before rebounding, AUDJPY minimum target passed, next one at 94.65/84, EURSEK remains in the doldrums, USDSEK close to breaking up from the falling wedge, GBPSEK what a u-turn! EURNOK bull triangle failed..let’s see if it’s a flag, USDCAD bullish price action points north, USDINR another winner added Friday, BONDS looks range bound for the day, S&P 500 up at a fresh high, €stoxx recovering some late losses, OIL charging the 2012 peak.
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