Tag Archives: SEK
The Global Macro Pulse
Overnight Price Action Following a rise in the S&P 500 of just under 0.1% overnight, futures are essentially flat and
Macro viewpoint: Don’t worry about weak Swedish consumption
Also in September consumers to a large extent stayed away from shopping according to Statistics Sweden.
Time for Scandi inflation data
In Sweden our forecasts for CPI and CPIF inflation are weaker than the Riksbank expects. If right, it will put additional pressure on the Riksbank to cut the policy rate.
Macro Viewpoint: Swedish industry still on a weak trend
The September data for the manufacturing industry were much weaker than expected. Despite the improvement seen in indicators, the trend for production is still weak.
The Global Macro Pulse
Overnight Price Action After the 1.3% fall in the S&P 500 overnight, futures are up 0.2% and the US 10yr yield is flat in Asian trading.
Swedish service PMI signals gradual improvement
The service sector PMI rose to 53.7 in October from 53.3 in September.
Macro Viewpoint: Swedish PMI weakens
Following the strong upturn in previous month, the Swedish PMI turned down in October. The downturn was bigger than expected.
When to sell the commodity CCY correction?
In our latest Currency Strategy we concluded that central banks remain the principal driving force for FX markets,
USD still in freefall
The US dollar continued its correction against most currencies last week, with the DXY dollar index testing 79.2.
Macro Viewpoint: Continued weakness in Swedish foreign trade
Foreign trade continued to deteriorate in September and came out weaker than we had expected. Exports of goods declined on the month,
Low for longer’ still applies in Scandinavia
After last week’s rather uneventful Riksbank meeting, we keep our view that the Swedish money market will continue to price the Riksbank ‘low for longer’ and
Macro viewpoint: Riksbank – softer than expected
Instant view: As widely expected the Riksbank left the repo rate unchanged today. They also kept a small short-term easing bias,