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SEK: In the free fall - ING

SEK has been in a free fall given the mix of poor domestic data, concerns about the housing market, the fragile risk environment and the EUR strength, explains the research team at ING.

Key Quotes

“With the sentiment sharply turning against SEK, a break of EUR/SEK above 10.00 looks very likely.”

“Data-wise, the focus will be on the Riksbank’s Financial Stability Report (Wed) with a particular focus on the housing market comments (Oct house price fell by 3%MoM, the most since 2008). However, we think it is too early for the report to point material concerns about the decline of the housing market.”

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