Commodities trade lower and their FXers goes down with it and this edge out as a key theme in ann overall backdrop of poor risk appetite… AUDUSD could extend losses into the mid-0.96s and USDCAD could advance further (with a target at 1.0640)… EURUSD is off yesterday’s lows, but another attempt at the recent low looks likely… EURSEK & EURNOK ought to extend gains through 9.2350 & 7.8505 respectively and intensify pressure on refs at 9.28 & 7.87… USDINR is just zooming away with a fresh all-time high just scored… EURPLN is also bullishly breaking up from a bullish triangle and over 4.4890 would target 4.5370 & 4.6910… Stocks are still pressured while US & German bonds still look bid…
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Tech team
Skandinaviska Enskilda Banken AB