SEK: Expected decline in Swedish CPI unlikely to weigh - ING

Analysts at ING point out that the key data point of the week for SEK is the Sweden Oct inflation (Tue) and they expect a correction lower as the energy-related base effects and erratic factors contribute to a decline in prices.

Key Quotes

“Although this may translate into a knee-jerk reaction in EUR/SEK higher, this should be limited and short-lived given that a decline in CPI is a consensus view.”

“With EUR/SEK trading somewhat rich vis-à-vis its short-term financial fair value, we see an upside to EUR/SEK as very limited, with valuation (both short- and medium-term) providing a cushion to SEK. The Sweden Oct unemployment rate (Thu) should have a non-negligible effect on SEK.”

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.