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SEK: Solid 3Q GDP may lift the krona (a bit) - ING

Analysts at ING are looking for EUR/SEK to stay around the 9.90 level as the recent negative sentiment towards the currency may have reached its near-term peak.

Key Quotes

“Sweden Q3 GDP (Wed) should print above consensus 1.1% YoY - the near-term Swedish growth momentum remains strong and the recent weakness in the housing market is unlikely to have affected 3Q data.”

“However, with Stibor under a downward pressure ahead of the year-end (due to resolution banking fee and the QE related liquidity) and concerns about the housing market, EUR/SEK should stay flat this week rather than falling materially.”

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