{"id":13007,"date":"2010-09-14T06:43:26","date_gmt":"2010-09-14T10:43:26","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=13007"},"modified":"2010-09-14T06:43:26","modified_gmt":"2010-09-14T10:43:26","slug":"european-economic-improvement-to-boost-swedish-krona","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/09\/14\/european-economic-improvement-to-boost-swedish-krona\/","title":{"rendered":"European Economic Improvement to Boost Swedish Krona"},"content":{"rendered":"<p><strong>By Russell Glaser<\/strong> &#8211; News released from Europe today showing increased economic forecasts  for European growth will have a positive impact on the Scandinavian  economies and in turn help to strengthen the Swedish krona.<\/p>\n<p>Today the European Commission increased  its estimate for gross domestic product in the European Union. The  commission believes that Europe\u2019s economy will grow by 1.8% as opposed  to the commission\u2019s previous estimate of 0.9%. The upgrade comes despite  a warning of potential slowing growth in the EU economy during the  second half of 2010. The slowdown and any additional weakening in  European GDP may be caused by deteriorating fiscal conditions and the  ending of government stimulus programs.<\/p>\n<p>The European economy will be powered by export growth in Germany. The  German economy may benefit as well from the weakened euro as a weak  euro can make German imports more competitive abroad. Countries that use  the euro are expected to expand economic activity by 1.7%.<\/p>\n<p>The implications for the Swedish Krona should be a positive. The  European Union contains 7 of the 9 largest trade partners for Sweden.  Any increase in European growth should directly affect growth in the  Swedish economy.<\/p>\n<p>Looking at the technicals for the USD\/SEK, the pair continues to  trend lower. An intermediate trend line begins at the highs in early  June. The trend line has two points of contact in late August. The  downward trend is confirmed by the 20-day simple moving average that is  sloping sharply lower.<\/p>\n<p>The <a href=\"http:\/\/www.forexyard.com\/blog\/en\/2010\/09\/06\/swedish-krona-running-into-support-levels\/\">previous target <\/a>remains  the same at 7.0400 (S1).  Resistance comes in at the pullback beginning  at 7.1950 (R1), followed by the completion of the bullish correction at  7.3350 (R2).<\/p>\n<p><a href=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/09\/USDSEK1.JPG\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/09\/USDSEK1.JPG\" alt=\"\" width=\"564\" height=\"672\" \/><\/a><\/p>\n<p><em><strong>Forex <\/strong><strong>Market Analysis provided by <a href=\"http:\/\/www.forexyard.com\/?zone_id=1398\" target=\"_blank\">ForexYard.<\/a><\/strong><\/em><\/p>\n<p>\u00a9 2006 by FxYard Ltd<\/p>\n<p>Disclaimer: Trading Foreign Exchange carries a high level of risk and                                                                may not  be          suitable     for     all            investors.       There      is   a                           possibility           that               you      could            sustain a    loss       of  all     of         your                         investment and                   therefore   you                should     not          invest           money    that      you                  cannot        afford to              lose.  You                should     be         aware     of         all       the        risks                 associated      with           Foreign            Exchange               trading.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Russell Glaser &#8211; News released from Europe today showing increased economic forecasts for European growth will have a positive impact on the Scandinavian economies and in turn help to strengthen the Swedish krona. Today the European Commission increased its estimate for gross domestic product in the European Union. The commission believes that Europe\u2019s economy &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/09\/14\/european-economic-improvement-to-boost-swedish-krona\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;European Economic Improvement to Boost Swedish Krona&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-13007","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/13007","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=13007"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/13007\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=13007"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=13007"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=13007"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}