Never miss a story from Dimitri Zabelin

Subscribe to receive daily updates on publications
Please enter valid First Name
Please fill out this field.
Please enter valid Last Name
Please fill out this field.
Please enter valid email
Please fill out this field.
Please select a country

I’d like to receive information from DailyFX and IG about trading opportunities and their products and services via email.

Please fill out this field.

Your Forecast Is Headed to Your Inbox

But don't just read our analysis - put it to the rest. Your forecast comes with a free demo account from our provider, IG, so you can try out trading with zero risk.

Your demo is preloaded with £10,000 virtual funds, which you can use to trade over 10,000 live global markets.

We'll email you login details shortly.

Learn More about Your Demo

You are subscribed to Dimitri Zabelin

You can manage your subscriptions by following the link in the footer of each email you will receive

An error occurred submitting your form.
Please try again later.

TALKING POINTS – EUR/SEK, SWEDEN, ANNIE LOOF, STEFAN LOFVEN

  • Annie Loof of the Center Party failed in her bid to form a government
  • Stefan Lofen will be formally proposed as Prime Minister on Dec. 3rd
  • EUR/SEK to rise as gridlock continues and poses a threat to stability

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

CENTER PARTY’S LOOF UNABLE TO FORM GOVERNMENT

Annie Loof of the Center Party reported on Thursday that she was unable to form a government coalition. Stefan Lovfen of the Social Democrats Party will now be formally proposed as Prime Minister on December 3rd, giving him 10 days to gather sufficient support. The outlook for the recently-ousted PM does not look promising.

LOFVEN TAPPED FOR SECOND FORMAL ATTEMPT AT COALITION

Lofven will be the second candidate who will be formally proposed as PM. The first was Ulf Kristersson of the Moderates, who saw two rivals within the Alliance party bloc vote against him. If Lofven fails and two more candidates are rejected as PM thereafter, this will trigger a fresh election. That may fuel growing support for the nationalist Sweden Democrats.

EUR/SEK TECHINICAL OUTLOOK

EUR/SEK has been on a steady decline since its peak at 10.7276 in late August. The October support at 10.2858 is a noteworthy barrier despite the false breakout in early November that saw the pair test the hurdle at 10.2116. If the latter is broken on a daily closing basis, a move to challenge June’s low at 10.0963 may be next.

EUR/SEK - Daily Chart

EUR/SEK TRADING RESOURCES

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

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