5 Mar 2015
Riksbank Governor: SEK strengthening “unwelcome” – BBH
FXStreet (Barcelona) - The Brown Brothers Harriman Team agree with Riksbank Governor Ingves’ comments that the SEK strength was unwelcome, as from a technical point of view the currency looks stretched, with the krona having appreciated 2% against the EUR.
Key Quotes
“Sweden reported a 3.1% rise in industrial orders following a 4.1% increase in December (was originally 5.1%). Industrial output rose 1% in January, and the December reading was revised to 2.1% from 1.7%.”
“The real sector in Sweden appears to be doing fine, as the negative repo rate and bond purchases are aimed at curbing deflation.”
“February CPI will be reported next Wednesday.”
“The krona has appreciated 2% against the euro in the past week and a half. The euro briefly slipped through SEK9.20 today for the first time since last November.”
“Riksbank Governor Ingves leaned against it today, declaring the krona strengthening as "unwelcome." The timing could be good it looks stretched from a technical standpoint.”
Key Quotes
“Sweden reported a 3.1% rise in industrial orders following a 4.1% increase in December (was originally 5.1%). Industrial output rose 1% in January, and the December reading was revised to 2.1% from 1.7%.”
“The real sector in Sweden appears to be doing fine, as the negative repo rate and bond purchases are aimed at curbing deflation.”
“February CPI will be reported next Wednesday.”
“The krona has appreciated 2% against the euro in the past week and a half. The euro briefly slipped through SEK9.20 today for the first time since last November.”
“Riksbank Governor Ingves leaned against it today, declaring the krona strengthening as "unwelcome." The timing could be good it looks stretched from a technical standpoint.”