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11 Apr 2013
Forex: EUR/SEK dips to session lows on higher CPI
FXstreet.com (Barcelona) - The Swedish krona is posting strong gains against the single currency on Thursday, after the Nordic consumer prices advanced 0.4% on a monthly basis, exceeding estimates. Over the last twelve months, prices came in flat, leaving behind the previous contraction of 0.2%.
In the opinion of Erica Blomgren, FI Strategist at SEB, “the recent advance of 2% in house prices during March would point to a hawkish bias from the Riksbank”, ahead of its next meeting.
At the moment, the pair is down 0.30% at 8.3345 with the next support at 8.3095 (low Apr.3) en route to 8.3051 (low Apr.2) and then 8.2840 (low Mar.27).
On the other hand, a surpass of 8.3910 (high Apr.10) would open the door to 8.4457 (high Apr.4) and finally 8.4585 (high Mar.25).
In the opinion of Erica Blomgren, FI Strategist at SEB, “the recent advance of 2% in house prices during March would point to a hawkish bias from the Riksbank”, ahead of its next meeting.
At the moment, the pair is down 0.30% at 8.3345 with the next support at 8.3095 (low Apr.3) en route to 8.3051 (low Apr.2) and then 8.2840 (low Mar.27).
On the other hand, a surpass of 8.3910 (high Apr.10) would open the door to 8.4457 (high Apr.4) and finally 8.4585 (high Mar.25).