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.



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

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
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
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 93.89%, while traders in Wall Street are at opposite extremes with 74.76%. See the summary chart below and full details and charts on DailyFX:
  • DAX broke wedge formation, testing March trend-line. CAC bias looking lower yet after initial bounce. Get your market update from @PaulRobinsonFX here:
  • New Zealand #Dollar Forecast: $NZDUSD at Technical Support- #Fed on Tap-
  • Indices Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Wall Street: 0.13% France 40: 0.13% US 500: 0.10% FTSE 100: 0.01% Germany 30: 0.01% View the performance of all markets via
  • White House: - No sign yet that the Delta variant has had an economic impact in the US - Mask guidance to be determined at the local level
  • The final week of July brings forth a packed economic calendar – particularly for the US Dollar: June durable goods orders; July consumer confidence; the July FOMC meeting; and 2Q’21 US GDP. Get your market update from @CVecchioFX here:
  • There is a creep of uncertainty with the rise of the Delita variant and the slowing of the economic recovery. Our DFX analysts give you an updated analysis of the top opportunities for Q3👉
  • NY Fed accepts $891.20 billion in reverse repo operations $USD $DXY
  • White House: Because of the Delta COVID variant, the US will maintain global travel restrictions
  • Technical Levels: #Dollar, #Loonie, #Aussie, #Gold, #Silver, #Oil, #Bitcoin and more! (Webinar Archive) -
Krona and Euro Vulnerable to Unprecedented Political Gridlock

Krona and Euro Vulnerable to Unprecedented Political Gridlock

Dimitri Zabelin, Analyst


  • Swedish Krona may be vulnerable amid continued post-election gridlock
  • Budget deadline eyed amid unprecedented delay in government formation
  • Turmoil in Stockholm compounds pressures from Italy, Brexit on the EU

Join a free Q&A webinar and have your USD/SEK trading questions answered!

Political gridlock has gripped Sweden since the inconclusive elections on September 9th that resulted in a hung parliament. The rise of the Sweden Democrats (SD) – a nationalist group with origins in neo-Nazism – has greatly complicated coalition-building negotiations.

All the big parties and coalitions – such as the Red-Greens and The Alliance – have refused to cooperate with the Sweden Democrats on principle. Any party seen publicly working with the nationalists risks hurting its credibility, providing ammunition for critics to allege sympathy with the extreme right wing.

So far, the speaker of the house has picked two candidates to form a government to lead Sweden.Both have failed. Moderate Party leader Ulf Kristersson was initially asked, and was then followed by Stefan Lofven, the current prime minister of the caretaker government. Kristersson has been asked once again to form a government. However, the outlook appears unnerving.

“I do not see any indication that anyone has changed their minds about anything at all,” Kristersson said.

If he and the next candidate fail, it will trigger another election, to be held in three months. Another poll is likely to yield a similar outcome, only with the possibility that the Sweden Democrats expand their support base. A pickup in European market volatility amid worries about growing political instability in the region will probably follow.

Krona and Euro Vulnerable to Unprecedented Political Gridlock

The fracturing of parliaments and rise of nationalism has been a growing characteristic of European politics. The macroeconomic implications of political fragmentation – especially from nationalists – will negatively affect EU stability and undermine the Euro, as it has in Italy.

Adding to the pressure, Sweden’s parliament has to approve a budget for 2019 by November 15th. Under normal circumstances, a government would have already been formedby this time. Absent that, there are measures to put forward a “neutral” budget by the current care-taker government.

However, it is somewhat difficult to imagine such thing as a “neutral” budget. The allocation of resources by the state is predicated on the values and objectives of the dominant party in the government. To that end, the Moderate Party is contemplating pushing forward its own version of a “neutral” budget to counter whatever Mr Lofven and company come up with.

The growing pressure from the impeding deadline may push political parties to radically shift their positions. While all major parties have refused to cooperate with the SD’s, their refusal to work with each other has undermined progress. Compromise is necessary, but with whom and when is unclear. That is understandably a cause of concern for markets and may inspire an exodus from SEK- and (to some extent) from EUR-denominated assets.


--- Written by Dimitri Zabelin, Jr Currency Analyst for

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.