12 May 2015
EUR/SEK jumps near 9.32 on CPI
FXStreet (Edinburgh) - The Swedish krona is now rapidly depreciating vs. the single currency, lifting EUR/SEK to session highs near 9.3200.
EUR/SEK stronger on CPI figures
The cross quickly gained upside momentum following the inflation figures from the Nordic economy, where consumer prices came in flat on a monthly basis and contracted 0.2% on a year to April, both prints missing expectations. Further data showed money market players’ inflation expectations mapped by TNS Sifo Prospera at 0.8% in a year’s time and 1.3% in 2-year’s time; the GDP expectations are placed at 2.5% and 2.4%, respectively.
EUR/SEK important levels
The cross is now gaining 0.42% at 9.2963 with the next resistance at 9.3260 (21-d MA) ahead of 9.3650 (high May 6) and then 9.3720 (daily cloud top). On the flip side, a breakdown of 9.2216 (low May 11) would open the door to 9.2130 (low May 8) and finally (9.1310).
EUR/SEK stronger on CPI figures
The cross quickly gained upside momentum following the inflation figures from the Nordic economy, where consumer prices came in flat on a monthly basis and contracted 0.2% on a year to April, both prints missing expectations. Further data showed money market players’ inflation expectations mapped by TNS Sifo Prospera at 0.8% in a year’s time and 1.3% in 2-year’s time; the GDP expectations are placed at 2.5% and 2.4%, respectively.
EUR/SEK important levels
The cross is now gaining 0.42% at 9.2963 with the next resistance at 9.3260 (21-d MA) ahead of 9.3650 (high May 6) and then 9.3720 (daily cloud top). On the flip side, a breakdown of 9.2216 (low May 11) would open the door to 9.2130 (low May 8) and finally (9.1310).