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
Oil - US Crude
Wall Street
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
  • RBNZ's Orr: Expects credit demand to lift and bank lending to match greater credit demand -BBG
  • RBNZ Governor Adrian Orr: Sees more room for banks to increase lending, banks have done well with loan restructures -BBG $NZDUSD #RBNZ
  • Join @ddubrovskyFX 's #webinar at 8:00 PM ET/12:00 AM GMT to find out what information you can gain from knowing what other traders are buying or selling. Register here: https://t.co/Bb3CTCTm44 https://t.co/AyCMqK52oa
  • BoC's Poloz: Negative rates needed only in extreme conditions, extreme conditions may happen if fiscal policy not used -BBG $USDCAD
  • S&P500: Still, risks to the rally remain so traders will have to discern whether this is an honest breakout or a mere head-fake higher. Get your #equities market update from @PeterHanksFX here:https://t.co/zDlsun6VIF https://t.co/IQ1ITcVj7I
  • Very interesting to see the 'pro-risk' Australian Dollar diverge with the #SP500 during Tuesday's Wall Street session. #USD struggled to capitalize on its 'safe-haven' appeal as stocks retreated. Gentle reminder that asset relationships and traits are not always absolute $AUDUSD https://t.co/bs8uXo6q6S
  • $EURUSD Daily Pivot Points: S3: 1.0809 S2: 1.0858 S1: 1.0881 R1: 1.093 R2: 1.0957 R3: 1.1007 https://www.dailyfx.com/pivot-points?ref=SubNav?utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
  • The Hang Seng suffered its worst day since 2015 on Friday on China anti-sedition proposal. Get your market update from @FxWestwater here:https://t.co/CMQ1UTewiF https://t.co/FSeumhbZn3
  • Trump says he will announce action on China before the week is over - BBG
  • Alright, so a breakout higher then in my #WallStreet index despite negative RSI divergence. This may have opened the door to revisiting peaks in average US stock prices from early March. Rising support from mid-May seems to be guiding the index higher (pink line) https://t.co/2dbegpLr7v
USD/SEK Jumpy as Riksbank Holds Rates, Boosts Bond Buying

USD/SEK Jumpy as Riksbank Holds Rates, Boosts Bond Buying

2016-12-21 10:00:00
Nick Cawley, Strategist

Talking Points

- USDSEK volatile on additional quantitative easing news.

- Central bank acts as inflation refuses to budge.

- See the DailyFX Economic Calendar and see what live coverage for key event risk impacting FX markets is scheduled for next week on the DailyFX Webinar Calendar.

The Swedish central bank, Riksbank, has upped its quantitative easing program and will buy another SEK30 billion of bonds in in the first six months of 2017. In a statement following the decision, the central bank said that while increasingly strong economic activity creates the conditions for inflation to continue rising, “there are risks that can jeopardize the upturn in inflation.”

“Inflation has been lower than expected in recent months, and it is still uncertain how quickly it will rise going forward. It is difficult to know, for instance, how the krona exchange rate will develop in an environment where the ECB has extended its asset purchase programme and the Federal Reserve has raised its policy rate.” The central bank added, that “the krona will strengthen slowly in the period ahead.”

Chart 1: Forecasts for Swedish Inflation, GDP, Unemployment and Repo Rate

USD/SEK Jumpy as Riksbank Holds Rates, Boosts Bond Buying

The Swedish Krona bounced around after the announcement and pulled back a little of its recent weakness. The Krona has weakened against the US Dollar in the last week from around 9.16 to 9.35 pre-announcement.

Chart 2: USDSEK 5 Minute Chart (21 December 2016)

USD/SEK Jumpy as Riksbank Holds Rates, Boosts Bond Buying

--- Written by Nick Cawley, Analyst

To contact Nick, email him at Nicholas.cawley@ig.com

Don't trade FX but want to learn more? Read the DailyFX Trading Guides

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


News & Analysis at your fingertips.