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
Once again, the price of Ethereum (ETH) has risen above $3,900. This bounce has hinted at a further price increase for the altcoin before the end of the year.
ECB Policy Outlook for 2026: What It Could Mean for the Euro’s Next MoveWith the ECB likely holding rates steady at 2.15% and the Fed potentially extending cuts into 2026, EUR/USD may test 1.20 if Eurozone growth proves resilient, but weaker growth and an ECB pivot could pull the pair back toward 1.13 and potentially 1.10.
With the ECB likely holding rates steady at 2.15% and the Fed potentially extending cuts into 2026, EUR/USD may test 1.20 if Eurozone growth proves resilient, but weaker growth and an ECB pivot could pull the pair back toward 1.13 and potentially 1.10.
West Texas Intermediate (WTI), futures on NYMEX, trades 2.3% higher to $73.00 during the early European trading session on Tuesday.
Gold (XAU/USD) catches fresh bids following the previous day's two-way price swings and trades with modest gains above the $5,350 level, during the Asian session on Tuesday.
The Pound Sterling (GBP) trades lower against its major currency peers, slides 0.3% to near 1.3360 against the US Dollar (USD) during the European trading session on Tuesday.
Related Instrument
