SEK, NZD Outperform Amid Low Volumes - SEK....>

FOREX: SEK, NZD Outperform Amid Low Volumes

- SEK sits top of G10 after the release of strong Retail Sales and extends its

recovery off yesterday's dovish Riksbank lows. EURSEK holds around 10.58, USDSEK

at 9.50.

- NZD staged impressive gains through Asia following strong NZ trade data and

comments from RBNZ Governor Orr that said he is not particularly worried about

slowing NZ growth, pointing to a strong NZ labour market and fiscal situation in

terms of trade. NZDUSD improved to $0.6655 targeting a break of the 38.2% fibo

of the April range at $0.6679.

- The dollar trades flat on the session with the DXY holding toward the base of

its 98.07-23 range. EUR & GBP registered modest gains but remain locked in tight

range trade.

- AUDUSD touched 0.6988 yesterday but has since recovered to $0.7038, suggesting

a false break of the $0.70 level. It's also worth noting AUDUSD has charted a

long-legged Doji candle pattern which is a sign of impending trend change.

- US GDP the main highlight today at 1230GMT.