US rate environment can push EUR/SEK to the 11.30 area – ING
Source Fxstreet
Today markets should see the Riksbank cutting rates by 25bp to 3.50%, ING’s FX strategist Chris Turner notes.
Market waits for a 50bp rate cut
“The market thinks there is a small chance of a 50bp rate cut. Our team continues to expect that the Riksbank will point to at least two further rate cuts later this year given the economy has been hit hard by higher rates and now that inflation expectations have fallen back under 2%.”
“We do not think EUR/SEK has to rally too much on the rate cut. And unless the Riksbank surprises with a 50bp rate cut today, our bias is that the softer US rate environment can carry EUR/SEK down to the 11.30 area.”
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Bitcoin consolidates above $92,000 and the 100-hour SMA as traders eye a breakout toward $96,450 or a potential retracement to $90,500 support.
Gold Price Forecast: XAU/USD edges lower below $4,200 amid worries about hawkish Fed rate cutGold Price (XAU/USD) trades in negative territory around $4,195 during the early Asian session on Tuesday. The precious metal edges lower amid concerns that the US Federal Reserve (Fed) will adopt a hawkish tone in its rhetoric, despite delivering a rate cut on Wednesday.
Gold Price (XAU/USD) trades in negative territory around $4,195 during the early Asian session on Tuesday. The precious metal edges lower amid concerns that the US Federal Reserve (Fed) will adopt a hawkish tone in its rhetoric, despite delivering a rate cut on Wednesday.
Silver (XAG/USD) enters a bullish consolidation phase during the Asian session and oscillates in a narrow range near the all-time peak, around the $61.00 neighborhood, touched this Wednesday.
Bitcoin has reclaimed the $94,000 mark, suggesting a possible short-term bullish uptrend, despite concerns over liquidity.
Solana (SOL) targets a breakout above $145 as four days of ETF inflows, rising futures open interest, and growing on-chain liquidity signal a return of bullish momentum.
