{"id":128259,"date":"2018-06-11T09:31:45","date_gmt":"2018-06-11T13:31:45","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=128259"},"modified":"2018-06-11T06:22:39","modified_gmt":"2018-06-11T10:22:39","slug":"usdsek-forex-analysis-preparing-for-the-publication-of-important-statistics","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/06\/usdsek-forex-analysis-preparing-for-the-publication-of-important-statistics\/","title":{"rendered":"USDSEK: Forex Analysis – Preparing for the publication of important statistics"},"content":{"rendered":"
June 11, 2018<\/div>
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By IFCMarkets<\/a><\/p>\n

Preparing for the publication of important statistics<\/strong><\/p>\n

Data on inflation for May will be published on June 14, 2018 in Sweden. Will USDSEK<\/a> fall?<\/p><\/blockquote>\n

Such a movement means the strengthening of the Swedish krona. Most market participants expect an increase in inflation to 1.9% in annual terms from 1.7% in April of the current year. Thus, it can come close to the target level of 2% set by the Swedish Central Bank (Riksbank). High inflation increases the probability of a rate hike, which is now minus 0.5% in Sweden. Last week, the First Deputy of Central Bank Kerstin af Jochnick expressed an opinion that the Swedish krona will be strengthened in the long run. The next Riksbank meeting will be held on July 3, 2018. In April, representatives of the Central Bank said that the rate be raised at the end of this year. The tightening of the monetary policy can support the rate of the Swedish krona.<\/p>\n

\"USDSEK\"<\/p>\n

On the daily timeframe, USDSEK: D1<\/b> approached the second support line of the uptrend. Before opening a sell position, it should be breached down. Investors\u2019 expectations of a rate hike by the Swedish Central Bank can contribute to the decrease of the currency pair.<\/p>\n