{"id":13976,"date":"2010-10-13T08:35:14","date_gmt":"2010-10-13T12:35:14","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=13976"},"modified":"2010-10-13T08:35:14","modified_gmt":"2010-10-13T12:35:14","slug":"both-nok-and-dkk-continue-to-fall-against-main-currency-rivals","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/10\/13\/both-nok-and-dkk-continue-to-fall-against-main-currency-rivals\/","title":{"rendered":"Both NOK and DKK Continue to Fall Against Main Currency Rivals"},"content":{"rendered":"<p><strong>By Dan Eduard<\/strong> &#8211; Sweden continues to be one of the <a href=\"http:\/\/www.forexyard.com\/blog\/en\/2010\/10\/05\/sek-sees-major-gains-due-to-strong-swedish-economy\/\">major success stories<\/a> in European economics.  Recently, comments from the Swedish Central  Bank signaled a possible rise in interest rates in the near future.   This led to fairly significant gains for the krona, particularly against  the euro and US dollar.  Over the last several days, the EUR\/SEK pair  has dropped over 1200 pips, and is currently trading around the 9.2450  level.  The <a href=\"http:\/\/www.forexyard.com\/en\/trading\/usd-sek\">USD\/SEK<\/a> had dropped over 1000 pips late last week, but the pair managed to  stage an upward rally when markets opened on Sunday night.  The trend  for USD\/SEK is still very much bearish, and analysts do not foresee a  significant upward correction in the near future.<\/p>\n<p>Turning to the other Scandinavian currencies, both the <a href=\"http:\/\/www.forexyard.com\/en\/trading\/usd-NOK\">NOK <\/a>and <a href=\"http:\/\/www.forexyard.com\/en\/trading\/usd-dkk\">DKK <\/a>have  not been able to match the success of its Swedish counterpart.  Since  markets opened for the week, the Norwegian krone has lost almost 400  pips to the euro and close to 1000 pips against the dollar. While the  Danish krone has been consistently gaining against the greenback in  recent months, it has started off the week loosing over 600 pips against  the USD.  While the EUR\/DKK pair has moved relatively little this week,  the pair seems locked in an upward trend which is unlikely to break in  the near future.<\/p>\n<p>This week, traders will want to pay attention to several economic  indicators out of the US that are likely to influence the Scandinavian  currencies. US Fed Chairman Bernanke is scheduled to give a speech on  Wednesday and Friday.  His speeches typically give a clear indication of  the direction the US economy is heading and consistently lead to market  volatility.  Any news that the US is moving to implement quantitative  easing measures in order to stave off another recession, is likely to  bring the dollar down against the Scandinavian currencies.<\/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; Sweden continues to be one of the major success stories in European economics. Recently, comments from the Swedish Central Bank signaled a possible rise in interest rates in the near future. This led to fairly significant gains for the krona, particularly against the euro and US dollar. Over the last several &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/10\/13\/both-nok-and-dkk-continue-to-fall-against-main-currency-rivals\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Both NOK and DKK Continue to Fall Against Main Currency Rivals&#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-13976","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/13976","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=13976"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/13976\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=13976"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=13976"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=13976"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}