Latest 10 news items tagged Sweden
EXCHANGE RATE NEWS: QUIET SESSION EXPECTED
Published: 11 Dec at 10 AM 2013
Sterling is not expected to make much movement today as relevant or important economic data releases are lacking. The next piece of UK data is not due for release until Friday with economists expecting the report to show that construction output
increased by 1.6% in October.
The US Dollar halted its decline to push firmer against its peers due to investors increasing their bets that the Federal Reserve will announce a tapering of its monetary easing programme at next week’s policy meeting.
MXN/USD Mexican Peso Close To Six-Week High, Krona Slides
Published: 10 Dec at 12 PM 2013
Although the ‘Greenback’ was supported against higher-risk peers as a prominent Fed official added weight to the case for the Federal Reserve tapering stimulus before the close of the year the emerging-market Peso rallied in response to political developments.
Mexico’s currency rose to a six-week high of 12.8768 against its US counterpart after the prospect of a more open national energy industry was supported by a joint bill compiled by representatives from both the ruling Institutional Revolutionary Party and the opposing...
Euro (EUR) Rallies But Krona (SEK) Soars
Published: 22 Nov at 5 PM 2013
Although the Euro strengthened against the majority of its peers (posting particularly notable gains against the Yen and Australian Dollar) as a result of stronger-than-anticipated German business confidence data and a German growth report which met economists' expectations, the Swedish Krona still advanced on its European cousin during the local session.
The Krona was able to broadly rally as a domestic report showed a surprisingly upbeat attitude among Swedish consumers and businesses.
The measure of consumer confidence jumped...
Krona (SEK) Drops Against US Dollar (USD) And Euro (EUR)
Published: 8 Nov at 1 PM 2013
While the unexpected developments in the Eurozone and the surprisingly strong growth data from the US inspired considerable market movement this week, a domestic report saw the Swedish Krona slump against all of its most traded currency peers during the European session.
Although the Euro broadly weakened in response to yesterday’s shock European Central Bank rate cut and the French credit rating downgrade, the Krona lost ground against its common currency rival as Swedish industrial production data showed that output stagnated in...
EUR/USD Plunges By Most For Nine Weeks
Published: 31 Oct at 1 PM 2013
The Euro began the European session on the back foot against the US Dollar as the American asset was boosted overnight by the Federal Reserve’s policy statement.
The statement was less dovish than anticipated and reduced the odds of the Fed delaying tapering until next year, boosting the ‘Greenback’ in the process.
Things continued to go downhill for the Euro with a stream of lacklustre data releases fuelling speculation regarding a future rate cut.
An unexpected decline in German retail sales and consumer confidence...
Krona Climbs As Unemployment Dips (EUR/SEK), Euro Rises (EUR/GBP)
Published: 11 Oct at 5 PM 2013
In a bit of a mixed day for European currencies, Sweden’s Krona climbed against its US rival for the first time in several days, advanced on the Pound and posted a modest gain against the Euro.
The Krona was boosted as Sweden’s non-seasonally adjusted unemployment rate dipped from Augusts’ 4.8 per cent level to 4.6 per cent in September.
Economists anticipated a reading of 4.7 per cent.
Figures compiled by the Public Employment Service also showed youth unemployment was down 4,000 on the year while the number of new...
Norwegian Krone At Nine Year Low, US Dollar Bullish
Published: 22 Aug at 4 PM 2013
With interest rate concerns heating up in both Sweden and Norway, the Nordic country’s currencies have clashed.
During European trading the Norwegian Krone sank to an almost nine-year low against its Swedish rival, weakening to 1.0712 Swedish Krona.
The last time the NOK/SEK pairing was at this level was in the spring of 2004.
The Krone has been trapped in a bearish relationship with several of its peers since data published earlier in the week showed that the Norwegian economy grew by considerably less than anticipated in...
Russia?s Ruble Tumbles To Four-Year Low, Sweden's Krona Climbs
Published: 13 Aug at 12 PM 2013
Bank Rossii’s decision to move its trading band higher once more saw the Ruble weaken against the Euro-Dollar basket and hit 37.9613 – almost a four year low.
The corridor for the Ruble against the basket was increased to 31.95-38.95 yesterday. This is the sixth time the central bank has upped its trading band since the end of June, and prompted industry expert Dmitry Dorofeev to comment: ‘Fundamental factors are in action. The latest move of the corridor won’t help the Ruble strengthen in the short-term, but will prompt...
Peso (MXN) Rupee (INR) Pound (GBP) And Krona Climb
Published: 5 Aug at 3 PM 2013
After all the steps taken by the Reserve Bank of India to temper the Rupee’s volatility it was actually US data which helped the currency post its most significant advance in two-weeks.
On Friday US data showed that the world’s largest economy added less jobs than forecast in July, although the nation’s unemployment rate did decline to 7.4 per cent.
Economists expected an increase of 185,000 positions, but the actual figure came in at a gain of 162,000.
In the aftermath of the US news the Rupee climbed by 0.5 per cent...
Rupee And Rand Fall, Krona And Yen Advance
Published: 29 Jul at 4 PM 2013
Although the Rupee has recovered some of the losses which saw it hit record-lows against the US Dollar earlier this month, the currency was trading slightly lower against the US Dollar today and its weakness remains a real cause for concern.
Ahead of tomorrow’s Reserve Bank of India rate decision, the central bank commented that: ‘The priority for monetary policy now is to restore stability in the currency market so that macro-financial conditions remain supportive of growth [...] Policy initiatives were taken in mid-July to...