OctaFX | OctaFX Forex Broker
Open trading account
Back

EUR/SEK: Riskbank have made an appropriate choice – Rabobank

Macroeconomic data has allowed the Riksbank to avoid criticism after the December interest rate hike, Rabobank reports.

Key quotes

“The SEK was briefly the best performing G10 currency on a 1-day view this morning, supported by the better than expected outcome for January manufacturing PMI data (at 51.5) which was released earlier in the week.”

“Growth is expected to strengthen next year to 1.6%, although this is below the previous forecast of 1.4%.”

“CPI inflation has been close to the Riksbank’s target of 2% for a prolonged period.”

“In our view, there is scope for the USD to remain relatively firm vs the SEK in the months ahead. While any further stabilisation in domestic Swedish economic data has the potential to push EUR/SEK moderately lower in the coming months, we would expect the 10.40 area to offer strong support.”

 

USD/CAD pares early gains, trades around 1.3280 ahead of US, Canada data

The USD/CAD pair advanced to a daily high of 1.3300 earlier in the day but reversed its direction with the crude oil recovery helping the commodity-se
Read more Previous

USD/CHF clings to gains above 0.9700 mark, US data eyed for fresh impetus

The USD/CHF pair surged through the 0.9700 round-figure mark and climbed to near one-week tops in the last hour, albeit retreated few pips thereafter.
Read more Next
Start livechat