SEK under pressure ahead of key data – Danske Bank

Chief Strategist at Danske Bank Valtteri Ahti noted the relevance of the upcoming releases in the Swedish docket and its impact on the Krona.

Key Quotes

“In the Scandi sphere, ahead of the Norges Bank meeting tomorrow, we have an interesting morning in Sweden with Valueguard housing prices and February inflation data”.

“If we are right in seeing upside to Valueguard prices, we may see EUR/SEK coming under pressure ahead of the inflation data. Then, if we are right in seeing inflation below Riksbank forecasts (albeit in line with consensus), EUR/SEK is likely to test higher again”.

“Our 1M target is 10.10 and 3M 10.20”.