Some recovery in the risk sentiment over the past week… but seems feeble so far and on lower volumes. Stock markets are hovering at important resistance levels, gold prices and AUD hit new lows vs USD…in many ways seems overdone. Signs of a cyclical upturn in Emerging Asia, notably China are still pending – this week’s PMIs? Yet even with improving cyclical picture, recent pain and structural negatives remain at the back of the head. Better be late than sorry.
Read the full report: FX Research
Nordea