Chief Analyst at Danske Bank Arne Rasmussen believes the Swedish Krona is poised for further depreciation in the next months. Key Quotes “The sharp drop in EUR/SEK on the back of the GDP numbers yesterday seemed fair in the sense that the outcome was way stronger than both consensus and the Riksbank’s estimates”. “The Swedish economy performed relatively well in the first half of the year although we do see signs that the housing market is taking its toll on growth and we expect to see more of that in coming quarters”. “In terms of monetary policy, the strong outcome is less important, even though it is surely welcomed by the Riksbank. Why? Because we know the central bank’s focus is elsewhere. In particular, we note that core inflation undershot its June forecast and as such the case for pricing in more frontloaded rate hikes is weak, in our view”. “We still do not expect a hike from the Riksbank this year and, on balance, we maintain our bearish view on the SEK, targeting EUR/SEK at 10.40 in 3M”. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next BoJ: Very minor tweaks – Deutsche Bank FX Street 5 years Chief Analyst at Danske Bank Arne Rasmussen believes the Swedish Krona is poised for further depreciation in the next months. Key Quotes "The sharp drop in EUR/SEK on the back of the GDP numbers yesterday seemed fair in the sense that the outcome was way stronger than both consensus and the Riksbank's estimates". "The Swedish economy performed relatively well in the first half of the year although we do see signs that the housing market is taking its toll on growth and we expect to see more of that in coming quarters". "In terms of monetary policy, the strong outcome… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
