EUR/USD, EUR/CHF, USD flows: $80 and some breaks regained; Swiss avoid risky vote
Oil back to $80 as deal to be signed, albeit with some can kick on details
EUR/USD regains 1.16, Nasdaq back above it's recent break lower
Swiss also avoid event risk, no on population cap, bolsters CHF
Relief dominating markets on Monday even if still tinged with a little background uncertainty given how last minute Israel strikes nearly derailed and given how much the detail may needs to come through and be delivered.
All the same, crude off another $4 and nudging the April low just off $80 on Nymex front. Markets will be more fully positive once shipments start flowing.
The Nasdaq has gained another 2% and taken back its recent break zone, moving back into the recent top area.
FX not running away but has likely regained some breaks, with EUR/USD back about 1.16~ though AUD/USD not quite getting 0.71~ back so still maybe some positioning headways still congesting. Higher beta SEK has made a bit more ground and looks to have a bit more ground to go if the positive scenario remains in place.
Plenty of other event risk ahead for this week, including an avalanche of important central bank meetings, and that will be checking momentum with the dollar in particular keen to hear from the new Fed chair as well as the BoJ (hike but other details more important).
Meanwhile, the Swiss voted at the weekend to reject the population cap, avoiding a potential conflict with the EU, and removing some event risk for the CHF. USD/CHF further backing off the 0.8~ test and EUR/CHF’s recent bounce capped today.