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
Bearish
Oil - US Crude
Mixed
Wall Street
Mixed
Gold
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
Bearish
USD/JPY
Bullish
More View more
Real Time News
  • Indices Update: As of 20:00, these are your best and worst performers based on the London trading schedule: US 500: 0.01% Wall Street: 0.01% Germany 30: -0.11% France 40: -0.19% FTSE 100: -0.27% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/HdfL6Ct6sE
  • McKesson said to explore sale of European, UK businesses -BBG $MCK $EURUSD $GBPUSD
  • EUR/GBP continues to trade towards the bottom of the trading range. Sentiment remains ‘mixed’ after near term decline in long positioning. Get your market updates from @RichardSnowFX here:https://t.co/i7uESnbkBE https://t.co/rdqrIAUnuG
  • @JohnKicklighter At the very least, it’s providing extra entertainment for us market junkies plugged into #Fed Chair Powell’s congressional testimony. Perhaps serving as a coping mechanism for HODL-ers as well. $BTCUSD #Bitcoin
  • U.K.-EU TRUCE LIKELY IN N.IRELAND TRADE DISPUTE, OFFICIALS SAY - BBG
  • Fed's Powell: - The Fed is prepared to utilize all of its tools to maintain inflation at or below 2% - It is extremely unlikely that inflation will be as high as it was in the 1970's
  • Fed's Powell: - Enhanced unemployment benefits may be a factor limiting job growth - In the fall, I believe we will see a lot more jobs being created
  • Fed's Powell: - On the employment front, we still have a long way to go - When the economy is healthier, we will focus on reducing government borrowing
  • So do crypto traders resort to making memes as they wait for the market to recover. The sheer volume of these memes is incredible to behold
  • Fed's Powell: - In certain circumstances, a backstop is preferable than a direct loan - Vaccines and their widespread use are critical to recovery
SEK Eyeing Riksbank Rate Decision - Dovish Stance Expected

SEK Eyeing Riksbank Rate Decision - Dovish Stance Expected

Dimitri Zabelin, Analyst

SEK TALKING POINTS – USD/SEK, RIKSBANK, SWEDEN

  • Swedish Krona will be eyeing Riksbank rate decision
  • Rising domestic, international risk to skew rate path
  • Policymakers watching European economy, Brexit

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

The Swedish Krona may move tomorrow after the Riksbank announces its interest rate decision and reveals changes – if any – to its policy outlook. Last December, the central bank raised rates for the first time in seven years, sending USD/SEK down almost 1.5 percent. Policymakers have stated they intend on raising rates in the latter half of this year, similar to the ECB.

However, the December meeting minutes revealed that many board members are concerned with rising risks domestically and from abroad. The country has been seeing a rise in household debt while economic data has been trending lower as the economy slows down. Risks in Europe arising from slower growth and political turmoil have certainly caught the attention of policymakers.

Most investors are anticipating for the repository rate to remain at -0.25 percent but will be eager to hear if policymakers still anticipate raising rates in the second half of this year. However, given the greater risks and unexpectedly slower domestic growth, officials could be inclined to adopt a more dovish stance to accommodate the circumstances.

Looking ahead, unemployment data is scheduled to be released on 14 at 08:30 GMT. Forecasts stand at 6.8 percent with the previous at 6.0 percent. The following week, a barrage of inflation data will be released on February 19that may move USD/SEK. As it is, the pair have risen almost 2.5 percent since February 1. Given the outlook, it is likely this upward trend will continue as Sweden slows down.

USD/SEK – Daily Chart

Chart Showing 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