EUR/SEK: Target set at 11.60 in 6-12 months – Danske Bank
Source Fxstreet
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.
Recommended Articles
Gold Price Forecast: Gold Rises as Nonfarm Payrolls Unexpectedly Turn Negative; Can CPI and PPI Help Break $4,500? As of the Asian session on August 10, gold prices ( XAUUS D) extended last week's trend into this week after a sharp rise last week, with the latest gold price trading near $4,345, up sli
As of the Asian session on August 10, gold prices ( XAUUS D) extended last week's trend into this week after a sharp rise last week, with the latest gold price trading near $4,345, up sli
The ongoing US-Iran conflict has entered a crucial diplomatic phase, with intense fighting and strategic pressure around the vital Strait of Hormuz continuing to drive the dynamic of the war.
As of the European session on August 7, gold prices ( XAUUSD) extended their recent strong performance, rising over 1% intraday to briefly cross the $4,300 mark. With a cumulative gain of
The US Dollar Index (DXY) trades around 99.95 at the time of writing on Friday, virtually unchanged on the day, as investors refrain from placing aggressive bets ahead of the release of the July US employment report.
West Texas Intermediate (WTI) oil price remains steady after registering modest gains in the previous day, trading around $77.50 per barrel during the Asian hours on Friday.
Related Instrument
