Bearish view intact around SEK – Danske Bank

Senior Analyst at Danske Bank Stefan Mellin keeps the bearish outlook on the Swedish Krona for the time being. Key Quotes “We remain bearish on the SEK after the July inflation numbers, which above all showed that core inflation at 1.3% undershot the Riksbank forecast. CPIF was one-tent ...

EUR/SEK still a buy on dips – Danske Bank

Allan von Mehren, Chief Analyst at Danske Bank sees the Riksbank refraining from moving on rates this week while suggested buying  the cross on occasional dips. Key Quotes “In terms of the SEK, we remain bearish after last week’s July inflation numbers, which above all showed tha ...

EUR/SEK vigilant on inflation figures – Danske Bank

Chief Analyst at Danske Bank Jens Sorensen noted SEK should closely follow the upcoming inflation figures in the Scandinavian economy. Key Quotes “EUR/SEK started the week quietly. Today, focus turns to the production numbers (the budget dittos are usually dismissed by the FX market) ...

SEK keeps the bearish view for the time being – Danske Bank

Chief Analyst at Danske Bank Arne Rasmussen believes the Swedish Krona is poised for further depreciation in the next months. Key Quotes “The sharp drop in EUR/SEK on the back of the GDP numbers yesterday seemed fair in the sense that the outcome was way stronger than both consensus and th ...

Sweden: Higher rates? – Rabobank

Jane Foley, Senior FX Strategist at Rabobank, suggests that on the heels of softer than expected labour and retail sales last week, the market was not prepared for this morning’s release of much stronger than expected Swedish Q2 GDP. Key Quotes “At 0.5% q/q, the pace of growth in th ...

EUR/SEK drops to 3-week lows near 10.23 on GDP

The Swedish Krona is sharply higher vs. the single currency. The cross drops and clinches fresh multi-week lows. Advanced Swedish GDP surprised to the upside in Q2. The Scandinavian currency is quickly gathering steam vs. its European peer at the beginning of the week, forcing EUR/SEK to fres ...

Buy the dips in EUR/SEK in the near term – Danske Bank

Strategists at Danske Bank recommended buying the dips in the cross in the next 3-6 month. Key Quotes “We look for a wider range in EUR/SEK over the summer, which we addressed in a sold strangle recommendation”. “While we did argue for a temporary dip in EUR/SEK as inflatio ...

SEK expected to appreciate to the 10.20 area – Danske Bank

Analysts at Danske Bank assessed the recent Riksbank event and the prospects for the Swedish currency. Key Quotes “Broadly speaking, the decision was quite undramatic, albeit that Flodén’s reservation on the repo rate path gave it a slightly hawkish tilt”. “In th ...

SEK: Balancing act? – Rabobank

The value of the SEK jumped this morning on what was deemed to be a more hawkish than expected bias from the Riksbank, notes Jane Foley, Senior FX Strategist at Rabobank. Key Quotes “As widely expected, interest rates were left unchanged at the central bank’s regular polic ...

SEK: Cautious over the near term path – TDS

Today’s Riksbank decision keeps alive hopes that a thin wedge of policy divergence could emerge between the Riksbank and the ECB and in line with this, the FX market has keyed onto the more hawkish elements of the announcement, according to analysts at TD Securities. Key Quotes “Lookin ...

Riksbank could signal a rate hike in Q4 next week – Danske Bank

Arne Rasmussen, Head of FI Research at Danske Bank, gives his views on the Krona and the Riksbank. Key Quotes “The SEK was under pressure at the start of the week on the back of souring global risk sentiment, and EUR/SEK has retraced some 50% of the recent descent from 10.70 to 10.10 ...

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 ...