FTSEMIB - Downtrend Intact, Consider AddingItaly's stock market is the weakling in Europe due to the risk-off sentiment and on the back of the downward revision of growth
in 2019 from 0.2% to 0.1% and a deficit in 2020 above 3%. The 10Y spread to Germany widened.
We have broken through a key daily sup/res level.
Momentum is negative.
Consider adding shorts on a pullback.
Fxrenew
NZDJPY - Downtrend Intact, Patience RequiredNZDJPY matches strong vs. weak pairs in FX.
Downtrend is intact and key resistance and continuation levels are highlighted.
We suggest patience because the RBNZ is due tonight and can materially change things.
Markets are looking for a rate cut (which would enhance the downtrend), but if they hold steady it will push NZD much higher.