28 Apr 2015
EUR/SEK jumps above 9.3800 on data
FXStreet (Edinburgh) - The Swedish krona is quickly depreciating vs. the euro, lifting EUR/SEK to fresh session tops near 9.3800.
EUR/SEK firmer post-Swedish releases
The cross gathered further traction after the mixed set of data from the Nordic economy, where Retail Sales rose 0.7% inter-month during March and 4.6% over the last twelve months. In addition, the trade surplus widened to SEK 4.20 billion during the same period from SEK 3.80 billion.
Further data showed Producer Prices rising 0.3% on a monthly basis and 2.3% YoY, while Consumer Confidence unexpectedly dropped to 97.1 for the current month, missing forecasts for a rise to 101.1 and down from march’s 100.4
EUR/SEK relevant levels
At the moment the cross is up 0.17% at 9.3826 with the next resistance at 9.3845 (100-d MA) followed by 9.3940 (high Apr.23) and finally 9.3970 (high Apr.7). On the other hand, a breakdown of 9.2801 (low Apr.22) would expose 9.2250 (low Apr.16) and then 9.1310 (low Mar.16).
EUR/SEK firmer post-Swedish releases
The cross gathered further traction after the mixed set of data from the Nordic economy, where Retail Sales rose 0.7% inter-month during March and 4.6% over the last twelve months. In addition, the trade surplus widened to SEK 4.20 billion during the same period from SEK 3.80 billion.
Further data showed Producer Prices rising 0.3% on a monthly basis and 2.3% YoY, while Consumer Confidence unexpectedly dropped to 97.1 for the current month, missing forecasts for a rise to 101.1 and down from march’s 100.4
EUR/SEK relevant levels
At the moment the cross is up 0.17% at 9.3826 with the next resistance at 9.3845 (100-d MA) followed by 9.3940 (high Apr.23) and finally 9.3970 (high Apr.7). On the other hand, a breakdown of 9.2801 (low Apr.22) would expose 9.2250 (low Apr.16) and then 9.1310 (low Mar.16).