Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.
    2021
    Best News & Analysis Provider
    FxDailyInfo
    2022
    Best Forex Educational Resources Global
    International Business Magazine

    EUR/SEK: Target set at 11.60 in 6-12 months – Danske Bank

    Source Fxstreet
    Jan 26, 2024 15:46

    Last year ended on a strong note for the Swedish Krona (SEK). Economists at Danske Bank analyze EUR/SEK outlook.

    Global macro cycle does not bode well for the SEK in 2024

    The cyclical backdrop remains a headwind for the SEK amid subpar and even recession-like European growth outlook. 

    The Riksbank will not lag the ECB in the easing cycle, which leaves the SEK in a vulnerable position. Repricing of central banks may hurt risk sentiment. 

    The structural flows picture is still a medium-term headwind for the SEK. 

    Should the global economy pick up more than expected in 2024, this could lend support to the SEK over the medium term.

    Forecast 11.20 (1M), 11.40 (3M), 11.60 (6M), 11.60 (12M)

     

    Disclaimer: For information purposes only. Past performance is not indicative of future results.
    placeholder
    GBP/USD can push a little higher in the short run to retest the low 1.2700 area – ScotiabankGBP/USD stretches its upside. Economists at Scotiabank analyze the pair’s outlook.
    Source  Fxstreet
    GBP/USD stretches its upside. Economists at Scotiabank analyze the pair’s outlook.
    placeholder
    Eurozone Sentix Investor Confidence Index rises to -10.5 in March vs. -12.9 previousThe Eurozone Sentix Investor Confidence Index rose from -12.9 in February to -10.5 in March, the latest survey showed on Monday, reaching its highest level since April 2023.
    Source  Fxstreet
    The Eurozone Sentix Investor Confidence Index rose from -12.9 in February to -10.5 in March, the latest survey showed on Monday, reaching its highest level since April 2023.
    placeholder
    USD/INR flat-lines ahead of Indian Services PMIIndian Rupee (INR) trades on a flat note on Monday. The upside of INR is bolstered by data showing India’s GDP growth in the October-December quarter considerably above forecasts.
    Source  Fxstreet
    Indian Rupee (INR) trades on a flat note on Monday. The upside of INR is bolstered by data showing India’s GDP growth in the October-December quarter considerably above forecasts.
    goTop
    quote