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
Mixed
Oil - US Crude
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
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
USD/JPY
Bearish
More View more
Real Time News
  • 🇬🇧 Retail Sales ex Fuel YoY (MAR) Actual: 7.9% Expected: 4.5% Previous: -1% https://www.dailyfx.com/economic-calendar#2021-04-23
  • 🇬🇧 Retail Sales YoY (MAR) Actual: 7.2% Expected: 3.5% Previous: -3.6% https://www.dailyfx.com/economic-calendar#2021-04-23
  • 🇬🇧 Retail Sales ex Fuel YoY (MAR) Actual: 7.9% Expected: 4.5% Previous: -1.1% https://www.dailyfx.com/economic-calendar#2021-04-23
  • 🇬🇧 Public Sector Net Borrowing (MAR) Actual: £-28B Expected: £-22.5B Previous: £-16B https://www.dailyfx.com/economic-calendar#2021-04-23
  • 🇬🇧 Retail Sales YoY (MAR) Actual: 7.2% Expected: 3.5% Previous: -3.7% https://www.dailyfx.com/economic-calendar#2021-04-23
  • Heads Up:🇬🇧 Retail Sales ex Fuel YoY (MAR) due at 06:00 GMT (15min) Expected: 4.5% Previous: -1.1% https://www.dailyfx.com/economic-calendar#2021-04-23
  • Heads Up:🇬🇧 Retail Sales YoY (MAR) due at 06:00 GMT (15min) Expected: 3.5% Previous: -3.7% https://www.dailyfx.com/economic-calendar#2021-04-23
  • Heads Up:🇬🇧 Public Sector Net Borrowing (MAR) due at 06:00 GMT (15min) Expected: £-22.5B Previous: £-19.1B https://www.dailyfx.com/economic-calendar#2021-04-23
  • Gold Prices Pause Rally as India's Covid Infections Surge, US Jobless Claims Fall https://www.dailyfx.com/forex/market_alert/2021/04/23/Gold-Prices-Pause-Rally-as-Indias-Covid-Infections-Surge-US-Jobless-Claims-Fall.html https://t.co/9RirRjOekY
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.68%, while traders in Germany 30 are at opposite extremes with 70.03%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/vbeOzxRu74
USD/SEK May Dip on Sweden's Trade Data, US-China Talks, EU Peril

USD/SEK May Dip on Sweden's Trade Data, US-China Talks, EU Peril

Dimitri Zabelin, Analyst

SEK TALKING POINTS - SWEDEN, TRADE BALANCE, TRADE WARS

  • The Swedish Krona may fall on Sweden’s Trade Balance report
  • Slower domestic growth suggests it will continue broad decline
  • Political, economic turmoil in EU may weigh on economic data

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

The Swedish Krona may have a small dip on January 28 as Sweden’s Trade Balance is scheduled to be released at 08:30 GMT. For over a decade now, the Nordic country’s current account balance has been falling since approximately 2007. Despite the brief uptick October, it is not likely the data will significantly improve in 2019.

Chart of Swedish Current Account Balance

Growth in Sweden is expected to slow this year as outlined in the Riksbank’s December meeting minutes. Policymakers are keeping their eye out for key domestic concerns such as high household indebtedness. The political uncertainty in Sweden is also still worrisome. They will also be closely monitoring political international economic and political forces that may influence the Swedish economy.

Some of these external risks include political turmoil in the EU with Brexit and the Italian budget crisis along with concerns of an economic slowdown. The influence of European events on the Swedish Krona is primarily attributed to the relationship the EU has with its Nordic counterparts.

As an export-driven economy, SEK is also vulnerable to trade wars and protectionism like what was seen in 2018 and may see in 2019. On that front, Chinese Vice Premier Liu He will be visiting the White House this week to further facilitate trade negotiations and attempt to reach a deal before the deadline on March 1.

The Swedish Krona in the meantime may continue its downward movement against the US Dollar. USD/SEK had a major jump last week and burst through 9.0032. Given the potential 2019 headwinds, the pair might continue to trade above this point and the key resistance at 9.0086.

USD/SEK Daily Chart

Chart of USD/SEK

USD/SEK TRADING RESOURCES

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

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.

DISCLOSURES