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11 Sep 2015
EUR/SEK in weekly lows around 9.3700
FXStreet (Edinburgh) - The Swedish krona is picking up pace on Friday, dragging EUR/SEK to fresh multi-week lows in the vicinity of the 9.3700 handle.
EUR/SEK weaker post-data
SEK strengthened further after very auspicious releases in Sweden showed that the unemployment rate has ticked lower to 6.4% during August, surpassing estimates at 6.8% and coming down from July’s 6.5%. Further data saw GDP figures during the second quarter expanding 1.1% QoQ and 3.3% over the last twelve months.
Eyes will now be on the monetary policy meeting by the Riksbank, with consensus still pretty divided regarding the chances of a rate cut.
EUR/SEK levels to watch
As of writing the cross is losing 0.66% at 9.3718 with the next support at 9.3506 (low Sep.3) ahead of 9.3239 (low Jul.21) and then 9.2755 (low Jul.16). On the flip side, the next up barrier aligns at today’s peak at 9.4398 followed by 9.4560 (high Sep.7) and finally 9.5490 (high Sep.1).
EUR/SEK weaker post-data
SEK strengthened further after very auspicious releases in Sweden showed that the unemployment rate has ticked lower to 6.4% during August, surpassing estimates at 6.8% and coming down from July’s 6.5%. Further data saw GDP figures during the second quarter expanding 1.1% QoQ and 3.3% over the last twelve months.
Eyes will now be on the monetary policy meeting by the Riksbank, with consensus still pretty divided regarding the chances of a rate cut.
EUR/SEK levels to watch
As of writing the cross is losing 0.66% at 9.3718 with the next support at 9.3506 (low Sep.3) ahead of 9.3239 (low Jul.21) and then 9.2755 (low Jul.16). On the flip side, the next up barrier aligns at today’s peak at 9.4398 followed by 9.4560 (high Sep.7) and finally 9.5490 (high Sep.1).