“The SEK has depreciated more than any major currency in 2019. This weakness now looks overdone, however, and no longer appears to be supported by underlying fundamental or technical factors,” TD Securities analysts argue. Key quotes “The Swedish economy has softened but the move looks overdone – particularly as other risky assets have recovered sharply YTD.” “With a lot of the bad news now in the price, we think the SEK looks vulnerable to a correction. This week’s Riksbank meeting should pass quietly, but our base case for a broadly unchanged policy stance is unlikely to provide further fuel to SEK bears.” “Against this backdrop, we think EURSEK looks ripe for a reversal lower. The October 11 high (10.5370) should provide a notable degree of resistance heading into this week’s policy meeting. As an alternative, we think CADSEK has potential for a significant retracement lower as we are generally inclined to fade CAD strength in this environment.” 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 Square’s Cash app to implement Bitcoin’s Lightning Network FX Street 3 years "The SEK has depreciated more than any major currency in 2019. This weakness now looks overdone, however, and no longer appears to be supported by underlying fundamental or technical factors," TD Securities analysts argue. Key quotes "The Swedish economy has softened but the move looks overdone - particularly as other risky assets have recovered sharply YTD." "With a lot of the bad news now in the price, we think the SEK looks vulnerable to a correction. This week's Riksbank meeting should pass quietly, but our base case for a broadly unchanged policy stance is unlikely to provide further fuel to… 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.
