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.



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
Wall Street
More View more

BoE Chief Econimist (Hawk) is to Step Down From BoE After June Meeting

Real Time News
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Silver: 2.19% Gold: 0.74% Oil - US Crude: 0.34% View the performance of all markets via
  • The Dow Jones, Nasdaq 100 and S&P 500 will look to the arrival of earnings season for influence. Get your #equities market update from @PeterHanksFX here:
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.41%, while traders in France 40 are at opposite extremes with 75.87%. See the summary chart below and full details and charts on DailyFX:
  • Pfizer states it can deliver 10% more vaccine doses to the US by the end of May $PFE $SPX $NDX $RUT
  • Had the pleasure of sitting down with @GuyAdami and @RiskReversal for another episode of The Macro Setup to discuss $GLD $BTC and $SPX ahead of earnings season and the Coinbase IPO Watch here -
  • Indices Update: As of 20:00, these are your best and worst performers based on the London trading schedule: France 40: 0.41% Germany 30: 0.06% Wall Street: 0.00% FTSE 100: 0.00% US 500: -0.01% View the performance of all markets via
  • #Bitcoin breaks out to fresh all-time highs as investors cast an eye to the long awaited Coinbase IPO #BTC $BTCUSD
  • NY Fed Treasury purchase schedule remains unchanged - BBG
  • Silver posting a strong session, now up 2.3% on the day. In recent trade, silver has struggled to break above the 50-day EMA $XAG $USD
  • Bitcoin sets another record high. BTC/USD gains traction in anticipation of Coinbase IPO. Get your $btc market update from @Tams707 here:
Swedish Krona Hungover After Riksbank Signaled Delayed Rate Hike

Swedish Krona Hungover After Riksbank Signaled Delayed Rate Hike

Dimitri Zabelin, Analyst


  • Swedish Krona plunged following the Riksbank rate decision and outlook
  • Central back pushes back rate hike, continues bond purchasing program
  • Growing risk out of Europe from slower growth, Brexit growing concern

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

The Swedish Krona and local two-year bond yields plunged following the release of the Riksbank’s decision to hold the benchmark rate at -0.25 percent and continue its accommodative policy – as anticipated. Central bank Governor Stefan Ingves announced that the next rate hike will either be at the tail end of 2019 or beginning of 2020. He also alluded to an extension of the bond purchasing program until December 2020.

Ingves stated that unemployment has bottomed out and that the Swedish economy has entered into a “calmer phase” with expectations of inflation reaching close to the Riksbank’s two percent target. However, underlying upward pressure is weak, particularly against the backdrop of slower global growth and rising trade tensions between the US and China, Japanand the EU.

Despite dismissing the probability of a global downturn ahead, the uncertainty over Brexit is a growing concern because of its unknown political and economic consequences. This comes as economies in Europe slow down with the ECB turning to new stimulus methods while it struggles to emerge out of negative rate territory.

As an export-driven economy with a heavy reliance on healthy demand out of Europe, waning growth in the EU is a major concern for Swedish policymakers. Indeed, this is particularly so in light of key Eurozone member states showing an alarming amount of weakness. The IMF cut global growth forecasts again – in large part due to ongoing trade wars – leaving less external demand for Swedish goods and undermining the country’s exports.

The Riksbank’s decision to push back its tightening cycle is part of a broader trend of almost all major central banks pushing back their hiking trajectory in light of growing uncertainty. The Norges Bank is an exception to this – but perhaps not for long. With still so much potential risk in the latter half of the year laying dormant, there is no telling of how the various factors push central banks to delay rate hike expectations further.

Later today, Swedish retail sales and producer prices data are scheduled to be released, though its impact on the Krona may be relatively muted following the Riksbank meeting. Looking ahead, next week is filled with major event risk out of Europe against the backdrop of US trade negotiations. Keeping an eye on these factors will be prudent because of the impact it may have on further delaying the central bank’s tightening cycle.


Chart Showing USDSEK


--- 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.