OctaFX | OctaFX Forex Broker
Open trading account

Flash: EUR/SEK to fall to 8.20 over the next 3 months - UBS

FXstreet.com (Córdoba) - Swedish GDP grew 1.7% yoy in Q1, up from 1.4% yoy in Q4 '12 and stronger than consensus, which was looking for an unchanged yoy growth rate, notes the UBS team.

The SEK strengthened on the news, with EURSEK falling towards 8.60 and the USDSEK dropping over 1% to below 6.65. "Given the ongoing recession in the Eurozone, we expect the EURSEK to remain near current levels in the near term", says UBS. "Over the next 3 months, however, we forecast EURSEK falling to 8.20 on the back of an improvement of the global economic environment".

EUR/USD extends the correction lower

After hitting session highs in the vicinity of 1.2980, the bloc currency initiated a correction lower to the current area of 1.2930/35 alongside a recovery of the greenback....
Read more Previous

US Dollar Index bouncing off lows

The greenback, measured by the US Dollar Index, is back to the 83.70 region on Wednesday, gathering some ground after bottoming around 83.50/55...
Read more Next
Start livechat