Back
19 Jun 2013
EUR/SEK keeps lows after Swedish data
FXstreet.com (Edinburgh) - The Swedish krona is markedly appreciating against the bloc currency on Wednesday, dragging EUR/SEK to session lows around 8.5800 on positive data from Sweden.
EUR/SEK focused on the Riksbank
Regarding the Nordic economy, Consumer Confidence for the month of June improved to 4.3 from 3.6 while the Business Confidence followed suit, up to 3 from 0 in the same period. Further data also showed that the unemployment rate ticked lower to 8.2% in May, bettering the median and April’s reading at 8.7%. These data add to the recent improvement in other fundamental indicators of Sweden, adding extra pressure to the Riksbank in light of the next monetary policy meeting.
EUR/SEK tech levels
As of writing, the cross is retreating 0.48% at 8.5865 with the next support at 8.5550 (MA200d) followed by 8.5460 (low Jun.4) and then 8.5305 (low May 22). On the upside, a break above 8.6575 (high Jun.18) would clear the way to 8.7635 (high Jun.11) and finally 8.7770 (high Dec.18 2012).
EUR/SEK focused on the Riksbank
Regarding the Nordic economy, Consumer Confidence for the month of June improved to 4.3 from 3.6 while the Business Confidence followed suit, up to 3 from 0 in the same period. Further data also showed that the unemployment rate ticked lower to 8.2% in May, bettering the median and April’s reading at 8.7%. These data add to the recent improvement in other fundamental indicators of Sweden, adding extra pressure to the Riksbank in light of the next monetary policy meeting.
EUR/SEK tech levels
As of writing, the cross is retreating 0.48% at 8.5865 with the next support at 8.5550 (MA200d) followed by 8.5460 (low Jun.4) and then 8.5305 (low May 22). On the upside, a break above 8.6575 (high Jun.18) would clear the way to 8.7635 (high Jun.11) and finally 8.7770 (high Dec.18 2012).