News & Analysis at your fingertips.

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.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Bearish
Oil - US Crude
Bearish
Low
High
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
Wall Street
Bearish
Low
High
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
Gold
Bearish
GBP/USD
Mixed
Low
High
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
USD/JPY
Bearish
More View more
Real Time News
  • What suits your style of trading stocks or commodities? Find out what are the differences in these two markets here: https://t.co/BnA07cMV0s https://t.co/fdigOgkmio
  • A forex trader is strategic, disciplined and always switched on to the markets. Learn how to build an FX mindset here: https://t.co/tB3aAErd70 https://t.co/Ilqz8BWTk0
  • The final ‘full’ week of the year brings about the last wave of significant event risk from around the globe, including three central bank rate decisions (Fed, BOE, & BOJ). Get your market update from @CVecchioFX here:https://t.co/PhqxSPlngI https://t.co/XX57vSjQwV
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn how to control greed in trading here: https://t.co/kODPAfJE79 https://t.co/HOvzuOICQx
  • Ever wonder if there are other chart types that can be sued for technical analysis? HLOC charts are discussed in the following article as well as their pros and cons. Learn more here: https://t.co/qV3c7a4YR3 https://t.co/32hYzqhuZ9
  • The Australian Dollar sits on the crossroads of Treasury yields, the S&P 500 and US fiscal stimulus expectations. Will $AUDUSD gains slow? Chinese Q4 GDP and Australian jobs data are due. Get your market update from @ddubrovskyFX here: https://t.co/BsYmmWFYOH https://t.co/HhLqb2iVgk
  • #Gold prices have come under significant pressure to kick-off 2021. However, the formation of bullish technical patterns across multiple timeframes suggests that a rebound higher may be at hand. Get your market update from @DanielGMoss here: https://t.co/Dpf8N4Fh0T https://t.co/pnZpnM9yT5
  • The ISM manufacturing index plays an important role in forex trading, with ISM data influencing currency prices globally. Learn about the importance of the ISM manufacturing index here: https://t.co/Xr3xtoFpZy https://t.co/yCtLFemdNc
  • GBP underpinned as BoE downplays negative rates, alongside vaccine rollout. Get your market update from @JMcQueenFX here: https://t.co/n6V6uw0XV5 https://t.co/Toq2fxSdBE
  • Technical analysis of charts aims to identify patterns and market trends by utilizing differing forms of technical chart types and other chart functions. Learn about the top three technical analysis tools here: https://t.co/KDjIjLdTSk https://t.co/5VzSt5Ak7R
Sweden’s PMI Index a Mixed Bag at 55.4, USDSEK Breaks Resistance

Sweden’s PMI Index a Mixed Bag at 55.4, USDSEK Breaks Resistance

2015-01-08 19:07:00
Walker England, Kara Dailey,

Talking Points:

  • Sweden’s net trade balance fell to -0.7 billion krona in November
  • December’s manufacturing PMI increases to 55.4 while its services PMI decreases to 55.4
  • USDSEK: resistance becomes support in uptrend

Sweden’s net trade balance fell to -0.7 billion krona in November. The value of exported goods was SEK 94.9 billion while that of imports was higher at SEK 95.6 billion. The trade deficit within the EU (SEK -11.2 billion) outweighed the trade surplus with countries outside the EU (SEK +10.5 billion). When compared to the same month in 2013, the percentage of exports remained unchanged while imports increased by 5%. This imbalance explains why a trade surplus (+3.8 billion) was recorded in November of 2013 and a deficit in November of 2014.

December’s net trade balance remains unclear as the months manufacturing and services PMI produced mixed results. The purchasing manager’s index for manufacturing increased to 55.4 in December, up from 52.7 in November. When analyzed on a quarterly basis PMI rose to 53.4 in Q4, up from 53.1 in Q3. The index for new orders increased by 3.1 points while that of production increased by 2.6 points. Furthermore, the employment index rose to 53.7, partially offsetting the slight drop in the price of intermediate goods which resulted from a decline in oil prices.

In contrast the, purchasing manager’s index for the service sector declined falling to 55.4 in December from 56.8 in November. The reason for the decline: a slow-down in the growth of new orders which fell to 53.3. However, despite the sub-index’s decline, it has remained in the growth zone for 18 months. Furthermore the composite services PMI, was classified as stable last year as indicated by a 3-month moving average which placed the index around 56.

USD/SEK 4 Hour Chart

dailyfx US dollar Swedish Krona 4 hour chart

Chart Created by Walker England Using MarketScope2.0

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

DISCLOSURES