FXstreet.com (Barcelona) - The Swedish krona is gaining ground against the bloc currency on Tuesday after the inflation figures in the Nordic economy during May have come in weaker than previous prints. In fact, the CPI rose 1.0% over the last twelve months and contrated 0.1% MoM, against +1.3% and +0.2% respectively.
According to FI analyst at SEB, E.Blomgren, “…lower gasoline prices and mortage rates put downside pressure on Swedish inflation…”, at the same time, the expert comments that pressure on prices remains subdued, in accordance with the Riksbank policy.
At the moment, the pair is down 0.14% at 8.8621, with the immediate support lying at 8.8670 ahead of 8.8260 then 8.8200 and 8.8120
On the upside, a breakout of 9.0454 would expose 9.0972 then 9.1470 and 9.1695
According to FI analyst at SEB, E.Blomgren, “…lower gasoline prices and mortage rates put downside pressure on Swedish inflation…”, at the same time, the expert comments that pressure on prices remains subdued, in accordance with the Riksbank policy.
At the moment, the pair is down 0.14% at 8.8621, with the immediate support lying at 8.8670 ahead of 8.8260 then 8.8200 and 8.8120
On the upside, a breakout of 9.0454 would expose 9.0972 then 9.1470 and 9.1695
