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. See our updated Privacy Policy here.

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
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
GBP/USD
Bullish
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
More View more
Real Time News
  • Looks Democrats may be close to a deal $SPX $USD $XAUUSD https://t.co/ds5UIeke3Q
  • The US Dollar may be at risk against ASEAN currencies as an energy crunch benefits the Indonesian Rupiah. USD/THB and USD/PHP face loosening Covid restrictions. All eyes on China GDP. Get your market update from @ddubrovskyFX here:https://t.co/RRaQZFGQKp https://t.co/RGMnxTCs46
  • USD/MXN has plummeted towards critical technical support following the recent pull-back. Get your market update from @DColmanFX here:https://t.co/H9trN4byPX https://t.co/rZ332BNHZO
  • 🇦🇺 Westpac Leading Index MoM (SEP) Actual: -0.02% Previous: -0.27% https://www.dailyfx.com/economic-calendar#2021-10-20
  • Hold your breath. Bitcoin is a sneeze away from tagging an intraday record high. $BTCUSD https://t.co/dT6uewVqTR
  • 🇯🇵 Balance of Trade (SEP) Actual: ¥-622.8B Expected: ¥-519.2B Previous: ¥-637.2B https://www.dailyfx.com/economic-calendar#2021-10-19
  • Heads Up:🇦🇺 Westpac Leading Index MoM (SEP) due at 00:00 GMT (15min) Previous: -0.3% https://www.dailyfx.com/economic-calendar#2021-10-20
  • Heads Up:🇯🇵 Balance of Trade (SEP) due at 23:50 GMT (15min) Expected: ¥-519.2B Previous: ¥-635.4B https://www.dailyfx.com/economic-calendar#2021-10-19
  • RT @Peter__Wood: @JKempEnergy Lots of copper demand on the horizon. Source https://t.co/qX6K1SAVRO https://t.co/WQr7kuf2sU
  • The New Zealand Dollar made new highs against the Japanese Yen but remained in a range trading environment against the Swiss Franc. Will NZD/CHF make new highs? Find out here: https://t.co/ULGSBe2tex https://t.co/YOxSxTKtqy
Riksbank Deputy Governors Review Interest Rate Decision

Riksbank Deputy Governors Review Interest Rate Decision

Walker England, Kara Dailey,

Talking Points:

  • Deputy Governors from the Riksbank explain last week’s decision to cut interest rates
  • The cornerstone: an increase in inflation risks that may induce further monetary easing
  • USDSEK remains supported over 8.300

In review of the Riksbank’s decision to introduce negative interest rates and initiate a bond buying program, select Executive Board members have toured domestically and abroad to explain the reasoning behind the bank’s decision. The common theme between the two presentations—inflation risks have heightened in Sweden leaving the committee ready to further ease policy if negative conditions persist.

In a speech held at Joenkoping University on February 18th, Deputy Governor Per Jansson laid the groundwork. From 1995 The Riksbank has limited the increase in annual inflation to 2.0% to maintain price stability in Sweden and facilitate an efficient payment system through ensuring financial stability. In the last 2 years this task has become increasingly difficult as inflation’s volatility has risen. Based on the bank’s high/low range forecast, the price level has landed outside the interval 9 times from 2013, far more than the 2 occurrences from 2011-2013. In her speech, delivered at Morgan Stanley in London, Deputy Governor Kerstin af Jochnick offers an explanation.

Inflation movements have become more erratic as oil prices have continued to fall and the tally of central banks implementing unconventional measures grows. Furthermore central bank movements are out of step; while the Federal Reserve and BoE are looking to tighten monetary policy the ECB, BoJ and BoC have taken accommodative measures. In tandem, politically uncertainty has culminated with an unceremonious Russia /Ukraine ceasefire and an unresolved Greek debt crisis.

Thus, at the risk of fueling an already high household debt ratio, the Riksbank cut rates to -0.10% last week in conjunction with commencing a SEK 10b bond buying program to elevate inflation from its current level of -0.2%.

USDSEK Daily Chart

Riksbank Deputy Governors Review Interest Rate Decision

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