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13 May 2015
EUR/SEK muted on inflation data
FXStreet (Edinburgh) - The Swedish krona is trading almost unchanged vs. the single currency on Wednesday, taking EUR/SEK to the 9.3360/65 area.
EUR/SEK indifferent on inflation expectations
The cross remained apathetic after the release of the inflation expectations by TNS Sifo Prospera, the monthly survey commissioned by the Riksbank in order to map money market players’ expectations of inflation, GDP and repo rates in Sweden. Money markets now place inflation at 0.9%, 1.4% and 1.8% in 1y, 2y and 5y while the expected GDP is 2.5%, 2.4% and 2.4%, respectively.
EUR/SEK important levels
The cross is now losing 0.07% at 9.3369 with the next resistance at 9.3473 (high May 12) ahead of 9.3650 (high May 6) and then 9.3720 (daily cloud top). On the flip side, a breakdown of 9.2216 (low May 11) would open the door to 9.2130 (low May 8) and finally (9.1310).
EUR/SEK indifferent on inflation expectations
The cross remained apathetic after the release of the inflation expectations by TNS Sifo Prospera, the monthly survey commissioned by the Riksbank in order to map money market players’ expectations of inflation, GDP and repo rates in Sweden. Money markets now place inflation at 0.9%, 1.4% and 1.8% in 1y, 2y and 5y while the expected GDP is 2.5%, 2.4% and 2.4%, respectively.
EUR/SEK important levels
The cross is now losing 0.07% at 9.3369 with the next resistance at 9.3473 (high May 12) ahead of 9.3650 (high May 6) and then 9.3720 (daily cloud top). On the flip side, a breakdown of 9.2216 (low May 11) would open the door to 9.2130 (low May 8) and finally (9.1310).