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USD/SEK –supported 6.5900 for now ahead of CPI tomorrow

FXstreet.com (London) - USD/SEK –supported 6.5900 for now

The USD/SEK has been supported at 6.5900 in Europe from an earlier high of 6.6200 in the session on a relative quiet day ahead of a jam packed two of data.

Inflation reports will kick start the weeks ahead tomorrow and are expected to come in -0.2% y/y. On 21 May the April labour market survey is due to be published, and on Thursday next the National Institute for Economic Research (NIER) is due to publish business (BCI) and consumer (CCI) confidence. So first up, the pair is awaiting for SEK CPI tomorrow and has positioned itself above the 6.5886 pivot. There have been some questions over the value of the currency in relation and divergence to the nations exports, but currently, in the face of improved dollar sentiment, resistance is seen to be at 6.6500 at the yearly highs for the quote.

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