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
Ethereum has surged over 20% in the past eight days, far outpacing Bitcoin's gains, suggesting that capital is favoring more volatile altcoins.On March 17 (GMT+8), the crypto market ralli
Gold (XAU/USD) edges higher during the Asian session on Tuesday, though it lacks follow-through and remains close to an over three-week low, touched the previous day.
AUD/USD gained around 1.25% on Monday, bouncing from last week's lows to settle around 0.7070. The pair has been in a choppy range since peaking near 0.7190 in early February, with price pulling back repeatedly toward the 0.7000 area before recovering.
Bitcoin (BTC) extends gains, trading above $73,000 at the time of writing on Monday, following a bullish breakout from the consolidation pattern it had been trading since roughly the past six weeks.
Breaking: Gold falls below $5,000 as oil-driven inflation fears weighGold price (XAU/USD) tumbles to around $4,980 during the early Asian session on Monday. The precious metal faces some selling pressure despite intense geopolitical conflict in the Middle East. Traders will closely monitor the developments surrounding the United States (US)-Israel war with Iran.
Gold price (XAU/USD) tumbles to around $4,980 during the early Asian session on Monday. The precious metal faces some selling pressure despite intense geopolitical conflict in the Middle East. Traders will closely monitor the developments surrounding the United States (US)-Israel war with Iran.
Related Instrument
