EUR/SEK could resume the upside on CPI results – Danske Bank

Senior Analyst at Danske bank Morten Helt noted the relevance of today’s inflation figures in SEK’s price action.

Key Quotes

“We argued that EUR/SEK looked overbought relative to our short-term models and could be prone for correction”.

“The Riksbank minutes were taken as an excuse to pull the cross below 10.50. The significant drop in the spot has gone hand in hand with relative yields and thus EUR/SEK remains overbought”.

“The April inflation numbers due today could push EUR/SEK higher again”.