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
With broader sentiment worsening, user demand falling across the Ethereum network, and institutional investors pulling back, the coin faces mounting headwinds in October.
The Japanese Yen (JPY) kicks off the new week on a weaker note in reaction to reports that the ruling Liberal Democratic Party (LDP) and the Japan Innovation Party (JIP) have agreed to form a coalition government.
Silver price (XAG/USD) trades 0.7% higher to near $52.30 during the late Asian trading session on Monday.
Solana (SOL) price extends its recovery, trading above $192 at the time of writing on Monday, after rebounding from the ascending trendline support last week.
The crypto market has been turbulent in October, with altcoin market capitalization dropping another 15%. Could this downturn worsen before October ends?
Related Instrument
