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). However, we think that it will take a substantial surprise to have any big and lasting impact on EUR/SEK”.
“The major focus this week for the SEK is Friday’s inflation data, where higher energy prices will push CPIF above the Riksbank’s forecast, while core inflation – ex energy – will be below its 1.44% estimate”.
“At the end of the day, we think that the Riksbank and the market will pay more attention to the core measure, which if anything should be bullish for EUR/SEK”.
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