{"id":13183,"date":"2010-09-20T09:02:14","date_gmt":"2010-09-20T13:02:14","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=13183"},"modified":"2010-09-20T09:02:14","modified_gmt":"2010-09-20T13:02:14","slug":"swedish-election-leads-to-sek-gains","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/09\/20\/swedish-election-leads-to-sek-gains\/","title":{"rendered":"Swedish Election Leads to SEK Gains"},"content":{"rendered":"<p><strong>By Dan Eduard <\/strong>&#8211; Following an election day shakeup in Sweden, in which the Prime  Minister\u2019s party failed to secure the necessary votes to form a  parliamentary majority, the Swedish krona was able to make modest gains  against both the US dollar and euro. The currency market typically  experiences a lot of fluctuation in times of political turmoil, and  today was no different.<\/p>\n<p>USD\/SEK dropped over 700 pips since  markets opened for the week before staging a very modest correction.   Currently the pair is trading around the 7.0190 level.  EUR\/SEK dropped  almost 600 pips in the same amount of time and is currently trading  around the 9.1950 level.  It appears that until a government is formed,  the SEK is likely to move back and forth against its main currency  rivals.  At the moment, the currency is most definitely in a bullish  trend.<\/p>\n<p>The other Scandinavian currencies have not been as profitable as  their Swedish counterpart.   The Norwegian krone has seen decidedly  mixed results against the US dollar and euro, and is currently bearish  against both.  The Danish krone on the other hand has seen steady gains  against the US dollar as of late.  USD\/DKK has tumbled almost 1900 pips  over the last week, and is currently trading around the 5.6840 level.<\/p>\n<p>The Scandinavian kroner is likely to see another volatile week, as  significant economic publications are forecasted from both the US and  euro-zone.  Traders will want to pay attention to the most recent US  Federal Funds Rate statement on Tuesday, as well as a batch of French  and German news being released on Thursday.  Should any of the news  boost investor come in at or above expectations, the Scandinavian  currencies are likely to see mid-week gains.<\/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 Dan Eduard &#8211; Following an election day shakeup in Sweden, in which the Prime Minister\u2019s party failed to secure the necessary votes to form a parliamentary majority, the Swedish krona was able to make modest gains against both the US dollar and euro. The currency market typically experiences a lot of fluctuation in times &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/09\/20\/swedish-election-leads-to-sek-gains\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Swedish Election Leads to SEK Gains&#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-13183","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/13183","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=13183"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/13183\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=13183"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=13183"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=13183"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}