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18 Feb 2013
Forex: EUR/SEK potential upside ahead in the week – Danske Bank
The pair is inching higher on Monday, following a marked depreciation of the Swedish krona, giving away some ground after last week’s decision by the Riksbank to leave the refi rate unchanged at 1.0%.
Ahead of the Swedish inflation figures due this week, Senior Analyst Morten Helt at Danske Bank, expects the CPI to come in lower in January than the Riksbank’s target. “A low inflation number on Thursday might fuel new cut expectations in Sweden and temporary to take some of the shine away from SEK. Thus, we see a chance for a correction higher in EUR/SEK this week”, the expert concluded.
Ahead of the Swedish inflation figures due this week, Senior Analyst Morten Helt at Danske Bank, expects the CPI to come in lower in January than the Riksbank’s target. “A low inflation number on Thursday might fuel new cut expectations in Sweden and temporary to take some of the shine away from SEK. Thus, we see a chance for a correction higher in EUR/SEK this week”, the expert concluded.