We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
More View more
Real Time News
  • Knowing how to accurately value a #stock enables traders to identify and take advantage of opportunities in the stock market. Find out the difference between a stock's market and intrinsic value, and the importance of the two here: https://t.co/QszmdZFxlk https://t.co/2mjzvYvgSn
  • Previewing the Texas Rangers new home! https://t.co/WITZGSQPlc
  • Thanks for having me on @MartinSEssex https://t.co/fg8uOe16wr
  • The MACD is often used with its default setting when entering trades. However, this versatile indicator can be customized to assist traders in exiting trades too. Learn how to better incorporate the MACD into your trading strategy here: https://t.co/HnY7gzsI2q https://t.co/5F1DSvAXyy
  • What are some factors affecting $GBP as we head into 2020, quarter one? Download your Sterling fundamental forecast with @nickcawley1 here to find out: https://t.co/YfDSYSATK9 https://t.co/ANFLIuDY4J
  • Trading Global Markets new #podcast features @DailyFX Anlayst @PeterHanksFX , who discusses what assets would benefit in the next #recession. Tune into this new podcast episode hosted by @MartinSEssex here: https://t.co/Twr44cZ1GB https://t.co/llKzvZGDpQ
  • The #Euro remains weak against a range of currencies and any move higher is struggling to gain traction as the single currency continues to be sold-off. Get your #EUR technical analysis from @nickcawley1 here: https://t.co/9B2m0kmd4d https://t.co/ZENxpC59mP
  • The Indian Rupee 2020 outlook is bearish as India faces stagflation risk amid rising onion and crude oil prices. $USDINR may rise in the medium-term as the RBI defers hiking rates. Get your market update from @ddubrovskyFX here: https://t.co/lRrlZjAQDw https://t.co/mFv1EOYMjG
  • The $GBP may be on the cusp resuming a 12-year downtrend against the US Dollar as signs of topping emerge at pivotal chart resistance. Get oyur market update from @IlyaSpivak here:https://t.co/9rM3OjWmBA https://t.co/sUWcSFruHw
  • The $NZD may be on average at risk to further losses against its major counterparts such as the US Dollar and Japanese Yen. Where to for NZD/USD and NZD/JPY from here? Find out from @ddubrovskyFX here:https://t.co/OFjePKYdCb https://t.co/eo1c6QAVd8
EUR/SEK May Rise in Short Term But Fall Heading into Q1 2019

EUR/SEK May Rise in Short Term But Fall Heading into Q1 2019

2018-12-14 04:00:00
Dimitri Zabelin, Junior Currency Analyst


  • Riksdag accepts budget from center-right parties – fiscal expansion expected
  • Sweden’s parliament will vote on Stefan Lofven as new PM on December 14
  • Markets are pricing in February rate hike after disappointing economic data

See our free guide to learn how to use economic news in your trading strategy!

The Swedish Parliament will be officially voting on the Speaker of the Riksdag’s second formal proposal for Prime Minister on December 14. Stefan Lofven of the Social Democrats Party – who recently failed to create a government coalition after being ousted by a vote of no confidence – faces an almost certain rejection.

This comes after he failed to reach an agreement with the Center and Liberal parties to deliver center-right policies in exchange for support in parliament. If four proposed candidates for PM are rejected, it will trigger a snap election.

Additionally, his caretaker government’s budget proposal was also rejected on December 12. Instead, parliament passed a center-right budget put forth by the Moderates Party and Christian Democrats. It includes the biggest income tax cut since 2007, and is estimated to provide a 0.6-0.7 percentage points to GDP from the fiscal stimulus. This compares to the caretaker government’s so-called “neutral” budget that essentially would maintain the previous year’s framework. It was forecasted to only contribute 0.1-0.2 percentage points to GDP.

The adopted budget proposal will almost certainly provide a boost to Sweden’s slowing economy. Several inflation reports for November undershot the forecasts, consequently cooling rate hike bets for December. Markets are now pricing in February rate hike. This also comes against the backdrop of global uncertainty – particularly in Europe – and a “gloomy” GDP in Q3.

In the short term, as Sweden wrestles with gridlock and slow inflation likely until year-end, EUR/SEK may continue to rise. The 10.2858 price level may serve as temporary support in the near-term. However, heading into Q1, the Swedish Krona – supported by a rate hike and fiscal stimulus – may cause the currency to rise relative to the Euro, thereby exerting downward pressure on the pair. The next possible levels of support are 10.2538 and 10.2116.

EUR/SEK – Daily Chart

EUR/SEK - Daily Chart.

For further updates on global political economy and asset responses to geopolitical shifts, feel free to follow me on twitter @ZabelinDimitriwhere I frequently tweet updates before writing an article on it.


--- Written by Dimitri Zabelin, Jr Currency Analyst for DailyFX.com

To contact Dimitri, use the comments section below or @ZabelinDimitrion Twitter

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.


News & Analysis at your fingertips.