OctaFX | OctaFX Forex Broker
Open trading account
Back

Forex: EUR/SEK dips to lows after PMI in Sweden

The Swedish economy continues to give signs of strong recovery after the services PMI for the month of February advanced to 54.6 from 52.6, joining last week’s good performances of the manufacturing PMI and the GDP figures. As a consequence, the Swedish krona is sharply appreciating against the single currency, dragging the cross from levels above 8.3600 to the current area sub 8.3400

The cross is now losing 0.21% at 8.3376 with the immediate support lying at 8.3174 (low Sep.3) ahead of 8.3107 (low Aug.31) and finally 8.2100 (low Aug.28).
On the flip side, a breakout of 8.4374 (MA14d) would expose 8.4899 (high Feb.21) and finally 8.5300 (low Feb.5).

Forex Flash: AUD makes a move following RBA statement – UBS

The Australian dollar saw a triple dose of upside overnight as the RBA kept the policy rate on hold – Australian retail sales surprised to the upside, and government spending in Q4 was very robust. According to Research Analyst Gareth Berry at UBS, “The latter creates upside risks for Wednesday's Q4 GDP report.” The RBA policy statement was largely identical to February's edition.
Read more Previous

Spain Markit Services PMI declines to 44.7 in Feb from 47 in Jan

Read more Next
Start livechat