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Equities are extending gains

CROSS ASSET
  • Auto/Parts, Tech and Banks lead the way in Stoxx600, with the index up 0.47%, while Utilities, Telcomm are the losing stocks.
  • SX7E recovers above 104.00, and resistance will be a little further out, towards 104.70, May's high.
  • In future, main target for the VGM3 is at 4363.00 High Apr 21 and the bull trigger.
  • Some decoupling in FX, with the Dollar edging higher despite the Risk On tone, seems to be taking its cue from Yields, although not really seeing a clear move in USDJPY.

Chart source: MNI/Bloomberg

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