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EURSEK

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Reuters - 4 days ago

Riksbank set for multiple rate cuts

BUZZ-COMMENT-Riksbank set for multiple rate cuts July 3 (Reuters) - There is a good chance Swedish interest rates could end the year a full percentage point below the current 3.75% level as the Riksbank becomes more confident over the inflation path. The minutes from the June policy meeting had more of a dovish tilt than the monetary policy statement and increasing concern for the Swedish labour market points to a series of rate cuts before the year is out.
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Reuters - 4 days ago

Uncertainty looms over Swedish crown's future path

BUZZ-COMMENT-Uncertainty looms over Swedish crown's future path July 3 (Reuters) - Mixed signals on the EUR/SEK chart are clouding the direction for Sweden's crown and this scenario fits with the uncertainty surrounding the next Riksbank rate move. On the daily chart EUR/SEK is supported by the daily kijun-sen, currently 11.3595. Resistance is close to market at 11.4245, the 200-day moving average, but this could be weakened by the 100-day moving average crossing above the slower average.
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Reuters - 1 week ago

Stand-out FX option strike expiries for the week ahead

BUZZ-COMMENT-Stand-out FX option strike expiries for the week ahead June 28 (Reuters) - The cash hedging of soon-to-expire FX option strikes can have a magnetic effect on FX price action and add to nearby support/resistance. There are some huge strikes worth noting for Friday June 28 and larger strikes for the week ahead. Stand-out EUR/USD strikes expiring on Monday are at 1.0685 on 1.3 billion euros and at 1.0700 on 2.6 billion euros.
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Reuters - 1 week ago

Riksbank's Bunge says inflation risks roughly symmetrical

Riksbank's Bunge says inflation risks roughly symmetrical STOCKHOLM, June 28 (Reuters) - The risks of Swedish inflation overshooting or undershooting are roughly balanced, central bank Deputy Governor Aino Bunge said on Friday. Bunge said there was a risk inflation would be too low ahead and that it would be important to adjust rates if that were the case.
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Reuters - 1 week ago

Pencil in an August rate cut from the Riksbank

BUZZ-COMMENT-Pencil in an August rate cut from the Riksbank June 27 (Reuters) - The Riksbank's June policy meeting delivered a widely expected unchanged rate decision, but the accompanying dovish rhetoric and forecasts were a surprise, and the market is now factoring in an August rate cut. By lowering its interest rate path by more than expected, saying there could be two or three cuts this year, rather than only two, the central bank has increased the probability of an August easing considerabl
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Reuters - 1 week ago

Sweden's Riksbank holds key rate, may cut three times in second half

UPDATE 3-Sweden's Riksbank holds key rate, could speed up cuts this year Riksbank holds rate at 3.75% as expected Sees chance of extra rate cut this year Swedish crown weakens on decision Adds analyst comment in paragraphs 8 and 9 , currency reaction By Simon Johnson STOCKHOLM, June 27 (Reuters) - Sweden's central bank held its key interest rate at 3.75% as expected on Thursday, and said that if inflation prospects remained the same, the policy rate could be cut two or three times during the sec
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Reuters - 2 weeks ago

Is the Riksbank's vigilance warranted?

BUZZ-COMMENT-Is the Riksbank's vigilance warranted? June 26 (Reuters) - The Riksbank meets on Thursday and is widely expected to leave its benchmark rate unchanged at 3.75%. Vigilance over inflation is a key theme for Western European central banks but with the crown on the rise, anchored inflation expectations and a weak labour market, it could be argued that the Riksbank is being overcautious.
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Reuters - 2 weeks ago

Looking beyond Thursday's Riksbank meeting

BUZZ-COMMENT-Looking beyond Thursday's Riksbank meeting June 24 (Reuters) - Market expectation is for the Riksbank to hold rates steady at 3.75% this week, but a dovish stance is likely to set the tone for the remainder of 2024 - assuming there are no significant external shocks that rock the crown. The central bank switched to an easing cycle in May, with a 25-basis point rate cut as inflation trends and expectations fell into line with the bank's forecasts.
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Reuters - 2 weeks ago

Riksbank's cautious approach will benefit the crown

BUZZ-COMMENT-Riksbank's cautious approach will benefit the crown June 21 Reuters - Following a 25-basis point rate cut in May, the Riksbank is expected to pause its easing cycle this month, which should bode well for the tentatively firmer SEK. Versus the dollar and euro, the crown has been held within a consolidation range and further steady trading ahead of the June 27 Riksbank meeting is likely.
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Reuters - 3 weeks ago

Swedish May inflation above forecast but more rate cuts expected

UPDATE 3-Swedish May inflation above forecast but more rate cuts expected Headline inflation unchanged at 2.3% in May vs forecast 2.1% Ex-energy inflation 3.0% vs 2.9% in April Riksbank cut rates in May, sees two more cuts this year. Recasts lead, adds analyst comment in paragraph 7, adds graph By Simon Johnson STOCKHOLM, June 14 (Reuters) - The pace of Swedish inflation was higher than expected in May, data showed on Friday, but analysts said they saw inflation tracking down in the months ahead
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Reuters - 4 weeks ago

Don't rule out a Riksbank rate cut in June

BUZZ-COMMENT-Don't rule out a Riksbank rate cut in June June 7 (Reuters) - The Swedish central bank sounded a note of caution at its last policy meeting regarding back-to-back rate cuts, but the domestic backdrop, coupled with the European Central Bank's first rate cut , argues the case for a June move. The Riksbank meets on June 27 and board members will have already seen the inflation data for May, which is expected to show a further drop in prices.
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Reuters - 1 month ago

Swedish crown's impressive rally is due a correction

BUZZ-COMMENT-Swedish crown's impressive rally is due a correction June 5 (Reuters) - The crown has seen a steady improvement since late April, with a 3.7% gain versus the euro and the removal of key EUR/SEK support points, but the charts are suggesting the SEK bull run needs a period of consolidation or a correction. The daily relative strength index dropped below the 30-line on Monday, indicating oversold conditions.
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Reuters - 1 month ago

Sweden's PM says more expansive fiscal policy ahead now inflation tamed

UPDATE 2-Sweden's PM says more expansive fiscal policy ahead now inflation tamed Adds background, further PM, finance minister quotes STOCKHOLM, June 4 (Reuters) - Sweden is winning the fight against inflation and fiscal policy can move into a new, more expansive phase, Prime Minister Ulf Kristersson said on Tuesday. The current right-of-centre government inherited strong finances despite the pandemic when it took office in 2022, but surging inflation, which peaked at more than 10%, held back sp
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Reuters - 1 month ago

Swedish economy brightening, making room for more expansive fiscal policy, PM says

Swedish economy brightening, making room for more expansive fiscal policy, PM says STOCKHOLM, June 4 (Reuters) - Sweden is winning the fight against inflation and fiscal policy can move into a new, more expansive phase, Prime Minister Ulf Kristersson said on Tuesday. Reporting by Simon Johnson, editing by Stine Jacobsen
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Reuters - 1 month ago

A June rate cut is not on the cards, Swedish c.bank governor says

A June rate cut is not on the cards, Swedish c.bank governor says STOCKHOLM, May 28 (Reuters) - A cut in Sweden's policy rate is not on the cards unless there is a dramatic change in the outlook for inflation and the economy, central bank Governor Erik Thedeen said on Tuesday. "The threshold is very high," Thedeen told reporters. The central bank cut the policy rate in May for the first time in around 8 years.
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Reuters - 2 months ago

Crown still presents inflation risk, Riksbank's Bunge says

Crown still presents inflation risk, Riksbank's Bunge says STOCKHOLM, May 23 (Reuters) - Inflation in Sweden has come down, but a weaker Swedish crown remains one of the biggest risks to a forecast that inflation will stabilize around the central bank's 2% target, Riksbank Deputy Governor Aino Bunge said on Thursday. Reporting by Simon Johnson, edi
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Reuters - 2 months ago

Rate cut in June unlikely, Swedish central banker Jansson says

Rate cut in June unlikely, Swedish central banker Jansson says STOCKHOLM, May 20 (Reuters) - A Swedish policy interest rate cut in June is unlikely but cannot be excluded, central bank Deputy Governor Per Jansson said on Monday. "We don't think it is particularly likely that conditions would be suitable we do something in June, as it was only two weeks ago we said expect two cuts in the second half," Jansson told reporters.
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Reuters - 2 months ago

Rate cut in June not on the table, Swedish central bank governor says

Rate cut in June not on the table, Swedish central bank governor says STOCKHOLM, May 20 (Reuters) - Another rate cut by Sweden's central bank in June, following the first policy easing in eight years in May, is not on the table, Riksbank Governor Erik Thedeen said on Monday. "We have been very clear that June is not on the cards," Thedeen told reporters.
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Reuters - 2 months ago

Inflation risks balanced, Swedish central bank governor says

Inflation risks balanced, Swedish central bank governor says STOCKHOLM, May 20 (Reuters) - Inflation risks are broadly balanced in Sweden given the policy interest rate path forecast the central bank has of two further cuts this year, Riksbank Governor Erik Thedeen said on Monday. Reporting by Simon Johnson, editing by Anna Ringstrom
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Reuters - 2 months ago

SEK charts beginning to favour the Riksbank

BUZZ-COMMENT-SEK charts beginning to favour the Riksbank May 20 (Reuters) - The Riksbank relaxed its position on the weak crown and cut its benchmark interest rate on May 8. This move might be rewarded with a bout of currency consolidation or even a period of crown appreciation if the bullish longer-term charts play out. There is still the threat of imported inflation and rhetoric from the Riksbank has not supported the idea of back-to-back rate cuts.
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