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Move Weaker vs USD and EUR Sustained

SCANDIS

Scandis see a sharp move weaker against the EUR and USD in the last 60 mins, mirroring the move across stock futures. Both the EuroStoxx50 and E-mini S&P have rolled off daily highs, supporting the pullback in high beta so far Monday. As such, Scandis now underperform broader G10 this morning.

  • EURSEK and USDSEK both trade around 0.4% higher on the day, while NOK pairs are around 0.3% higher.
  • EURNOK approaches the Jul 6 high at 11.7770 while EURSEK eyes the 50-day EMA at 11.6906 (having breached the 100-day EMA at 11.6584 already).
  • The local docket is light today, with cross-market moves and backdrop risk sentiment likely to drive price action.
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