Tag Archives: SEK
Currency Weekly: SEK: Still seksy
The main factor behind recent SEK weakness has been the change in Riksbank policy in response to weakening activity data. The repo rate was cut by 25bp in September to 1.25%, and a further cut to 1.00% is possible at the December meeting.
European FX Daily
– China PMIs rise in October, as did most other Asian PMIs – Korean trade data stronger than expected in October – UK PMI likely to ease, US ISM likely flat
European FX Daily
– RBNZ unchanged and less dovish than expected – Singapore industrial production disappointed badly in September – UK GDP likely up 0.5% in Q3 – We expect strong data from the US
Americas FX Daily
Spanish voting revives the euro again What happened overnight – Spanish PM Rajoy’s party performs well in regional elections – Japan’s trade data show further deterioration – Canada’s government rejects Malaysian bid for energy assets
European FX Daily
Asian equities down slightly, FX sideways in thin trading – Japan’s trade data disappoint again – Data heavy week ahead
FX Daily Strategist: Europe
– EURUSD enters a more bullish phase; Data unlikely to raise ECB easing expectations The EURUSD crept up again on Monday after Spain’s prime minister won an election victory yesterday in his home region of Galicia. This victory likely removes a hurdle for Madrid to apply for EU/ECB intervention via OMTs.
European FX Daily
– Chinese equities up even as most other markets fall – Korean employment up, unemployment unchanged at 3.1% – Weak Swedish industrial production a risk to SEK – We expect Brazil to keep policy rates unchanged
European FX Daily
China PMI weaker than expected in September, but still up from August – Another disappointing Tankan – Focus on European and US PMI today
FX Daily Strategist: Europe
* EUR recovery to be tested by eurozone GDP release EUR has continued to hold up well despite a barrage of negative political headlines, such as German press reports suggesting the German constitutional court ruling (Sep 12) on ESM and fiscal union could be further delayed.
European FX Daily
* Kiwi retail sales stronger than expected * Indian central bank reiterates hawkishness * Euro area GDP likely contracted in Q2 * Greece to sell EUR3.1bn of 91-day bills
European FX Daily
Currencies and equities mixed * Japan Q2 GDP weaker than expected * Focus on US survey data for August
Speculative Positions
Normalization of previous risk-off positioning the major theme Summary of the non-commercial (“speculative”) accounts in the CoT report (June 27 – July 3)