Analysts at ING suggest that the politics will dominate Swedish markets this week, where Wednesday will see the centre-right Moderates try to secure their leader, Ulf Kristersson, as the next Prime Minister.
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“The vote will be close and should help the SEK should it succeed, but failure should not necessarily be a knock-out blow for the SEK. We say this because there would still be a chance of 2019 budget proposals being approved a day later, which would end some welcome uncertainty.”
“This week will also see Swedish October CPI, which may come in on the high side and cement expectations of a December Riksbank rate hike. Those expectations may hold until some softer 3Q18 Swedish GDP data is released at the end of the month.”
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