Riksbank seen on hold in July – Danske Bank

Senior Analyst at Danske Bank Stefan Mellin believes the Riksbank will keep its monetary status quo unchanged at next month’s meeting. Key Quotes “In July, we expect the Riksbank to leave its repo rate path intact which means a first hike in Q4 (10bp in October is what the rate pat ...

EUR/SEK seen at 10.20 in 12-month – Danske Bank

Stefan Mellin, Senior Analyst at Danske Bank, keeps the constructive view on the Swedish Krona within a year’s view. Key Quotes “Our 1M 10.20 has been breached on the back of inflation data that is ‘OK-ish’, the Riksbank staying on track for now and continued, broad-base ...

EUR/SEK still faces downside risks – Danske Bank

Morten Helt, Senior Analyst at Danske Bank, noted the cross still points to extra downside in the near term. Key Quotes “With the outlook of the next move higher in NOK we yesterday took (a small) profit on our short NOK/SEK position. Initially, we wanted to await the Swedish inflation prin ...

SEK appears constructive near term – Danske Bank

In view of Jens Pedersen, Senior Analyst at Danske Bank, the outlook on the Swedish currency seems positive in the near term horizon. Key Quotes “In Scandies, risk aversion took a firm grip on EUR/SEK yesterday as the Italian crisis escalated, and price action suggests Sweden’s AA ...

SEK appears doubtful near term – Danske Bank

Jens Pedersen, Senior Analyst at Danske Bank, gave his views on the recent price action around the Swedish Krona. Key Quotes “Notably, EUR/SEK was bid yesterday despite intensified turmoil in Italy. There is still no evidence that the triple A-marked SEK should benefit from the eurozon ...

SEK: Fundamentals to drive further weakness – Nomura

EUR/SEK moved 1% lower on news Friday morning that the Swedish National Debt Office will position for a stronger krona against the euro and this short EUR/SEK position could be increased up to SEK 7bn, points out the research team at Nomura. Key Quotes “We don't think this alters th ...

EUR/SEK fair value appears between 10.20-10.30 – Danske Bank

Analyst at Danske Bank Mathias Mogensen notes the fair value for the cross should be between 10.20 and 10.30. Key Quotes “EUR/SEK was pushed higher yesterday partly from ‘risk off’ and partly from the Riksbank’s Financial Stability report. The Riksbank was clearly mor ...

Fair value for EUR/SEK sits around 10.25 – Danske Bank

Aila Mihr, Analyst at Danske Bank, noted the fair value for the cross should be around the 10.25 area. Key Quotes “The Riksbank Jansson’s comments were a bit all over the place yesterday: on the one hand he said that SEK is ‘not the motor’ for inflation; on the other tha ...

Scandis: Back and forth – Nordea Markts

Analysts at Nordea Markets explain that last week was another week of Riksbank backtracking, on the heels of the SEK sell-off that they created by writing that "it is important that the krona exchange rate develops in a way compatible with inflation stabilising close to the target" at th ...

Riksbank continues backtracking – Nordea Markets

Analysts at Nordea Markets suggest that in a light Scandinavian news week, focus remained on the Riksbank’s backtracking of the market reaction created by the sentence "it is important that the krona exchange rate develops in a way compatible with inflation stabilising close to th ...

EUR/SEK: Recovery or expansion phase? – Rabobank

Jane Foley, Senior FX Strategist at Rabobank, suggests that although EUR/SEK has been slow to react to the likelihood that rate differentials should move in favour of the SEK, the sharp fall in the value of the currency pair this month has signalled a rapid covering of short positions.   ...

EUR/SEK revised lower to 10.20 in 1-month – Danske Bank

Setefan Mellin, Senior Analyst at Danske Bank, noted the cross is seen around 10.20 in a month’s view. Key Quotes “Our bearish SEK view has two pillars: first, the inflation outlook makes it hard for the Riksbank to raise rates this year; second, a sharp slowdown in growth due to th ...

EUR/SEK does not rule out extra downside – Danske Bank

The Swedish Krona could extend its appreciation further in the next weeks, according to Christin Tuxen, Chief Analyst at Danske Bank. Key Quotes “We wouldn’t be surprised if EUR/SEK continues to go lower from here. The nutty thing however is that if the SEK appreciates too fast, th ...

EUR/SEK drops to session lows near 10.36

The Swedish currency appreciates further to the 10.3700 area today. SWE CPIF rose in line with consensus at 1.9% on a yearly basis. The cross drops to fresh 3-week lows after inflation figures. The Swedish Krona is gathering further traction on Wednesday and is dragging EUR/SEK to test fres ...

EUR/SEK could resume the upside on CPI results – Danske Bank

Senior Analyst at Danske bank Morten Helt noted the relevance of today’s inflation figures in SEK’s price action. Key Quotes “We argued that EUR/SEK looked overbought relative to our short-term models and could be prone for correction”. “The Riksbank minutes were take ...