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14 Apr 2015
EUR/SEK climbs to highs on CPI
FXStreet (Edinburgh) - The Swedish krona is now rapidly depreciating vs. the euro, lifting EUR/SEK to test session highs near 9.3600.
EUR/SEK stronger on data
The pair seen its upside renewed after consumer prices in the Nordic economy disappointed investors during March, rising at a monthly pace of 0.1% and 0.2% on a yearly basis. The CPIF (CPPI at constant interest rate) followed suit, up 0.1% inter-month and 0.9% over the last twelve months.
The CPI release brings some relief to the Riksbank, easing concerns regarding the strength of the krona and the possibility of further easing via rate cuts.
EUR/SEK key levels
The pair is now up 0.23% at 9.3441 and a breakout of 9.3696 (high Mar.2) would target 9.3732 (50% of 9.6894-9.0570) en route to 9.3785 (100-d MA). On the flip side, the immediate support lines up at 9.3020 (low Mar.26) followed by 9.2821 (10-d MA) and then 9.2813 (200-d MA).
EUR/SEK stronger on data
The pair seen its upside renewed after consumer prices in the Nordic economy disappointed investors during March, rising at a monthly pace of 0.1% and 0.2% on a yearly basis. The CPIF (CPPI at constant interest rate) followed suit, up 0.1% inter-month and 0.9% over the last twelve months.
The CPI release brings some relief to the Riksbank, easing concerns regarding the strength of the krona and the possibility of further easing via rate cuts.
EUR/SEK key levels
The pair is now up 0.23% at 9.3441 and a breakout of 9.3696 (high Mar.2) would target 9.3732 (50% of 9.6894-9.0570) en route to 9.3785 (100-d MA). On the flip side, the immediate support lines up at 9.3020 (low Mar.26) followed by 9.2821 (10-d MA) and then 9.2813 (200-d MA).