15 Sep 2015
EUR/SEK points to further consolidation – Danske Bank
FXStreet (Edinburgh) - Chief Analyst at Danske Bank Allan von Mehren sees the cross meandering between 9.30 and 9.60 for the time being.
Key Quotes
“EUR/SEK has made a sustained move from above 9.60 just a few weeks ago to now trade in the lower end of the long-standing 9.30-9.60 interval”.
“We think the range will hold for now and thus see limited further downside in the cross from here. Notwithstanding some deterioration in early September, the stream of Swedish data over the summer has largely surprised on the upside; however, we still look for negative inflation surprises over the autumn, which should keep EUR/SEK bid”.
Key Quotes
“EUR/SEK has made a sustained move from above 9.60 just a few weeks ago to now trade in the lower end of the long-standing 9.30-9.60 interval”.
“We think the range will hold for now and thus see limited further downside in the cross from here. Notwithstanding some deterioration in early September, the stream of Swedish data over the summer has largely surprised on the upside; however, we still look for negative inflation surprises over the autumn, which should keep EUR/SEK bid”.