{"id":15187,"date":"2010-11-09T15:09:46","date_gmt":"2010-11-09T20:09:46","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=15187"},"modified":"2010-11-09T15:09:46","modified_gmt":"2010-11-09T20:09:46","slug":"denmark-may-raise-rates-swedish-krona-in-decline","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/11\/09\/denmark-may-raise-rates-swedish-krona-in-decline\/","title":{"rendered":"Denmark May Raise Rates; Swedish Krona in Decline"},"content":{"rendered":"<p><strong>By Greg Holden &#8211;<\/strong> The liquidity exit of the European Central Bank (ECB) may soon drive  regional rates higher than Denmark\u2019s and subsequently dampen demand for  the Danish krone (DKK). Despite their dependence on euro zone credit,  Ireland, Greece, and Portugal may find themselves without ECB-added  liquidity as the euro zone appears committed to its plans to withdraw  emergency funds.<\/p>\n<p>The differential between euro-area  interest rates and Denmark\u2019s interbank rates has begun to turn negative,  leading to a higher probability of a rate increase in next month\u2019s  meeting by Denmark\u2019s Nationalbanken.<\/p>\n<p>In Sweden, a moderate dip in the krona (SEK) was caused by USD  profit-taking following the announcement of the US quantitative easing  program (QE2). The USD\/SEK rose almost 3.6% in the days following the  announcement, and has since remained stable near the 6.7250. Sweden also  appears poised to raise rates once more in the near future, but dovish  statements from the Riksbank following the last rate change have  speculators uncertain.<\/p>\n<p><strong>USD\/DKK Range-Trading<\/strong><\/p>\n<p>The chart below is the <a href=\"http:\/\/www.forexyard.com\/en\/trading\/usd-dkk\">USD\/DKK<\/a> daily chart provided by <a href=\"http:\/\/www.forexyard.com\/\">ForexYard<\/a>.<\/p>\n<p>The pair appears to be range-trading between 5.2300 and 5.4270,  represented by the 23.6% and 38.2% Fibonacci retracement levels,  respectively. The pair appears to be approaching the upper border of its  range-trading behavior and indicators are beginning to show impending  downward pressure.<\/p>\n<p>The <a href=\"http:\/\/www.forexyard.com\/en\/stochastic\">Stochastic (slow)<\/a> on the chart below has what appears to be an impending bearish cross.  After completing the cross, the pair is likely to experience growing  sell pressure. The RSI has the price in an ascending pattern which  suggests the pair has room to go higher. Once it reaches the over-bought  region it will support the notion of going short on the pair.<\/p>\n<p><strong>USD\/DKK \u2013 Daily Chart<\/strong><\/p>\n<p><a href=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/11\/USDDKK-Daily-Chart.JPG\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/11\/USDDKK-Daily-Chart.JPG\" alt=\"\" width=\"564\" height=\"650\" \/><\/a><\/p>\n<p><em><strong>Forex <\/strong><strong>Market Analysis provided by<span style=\"text-decoration: underline;\"> <a href=\"http:\/\/www.forexyard.com\/?zone_id=1398\" target=\"_blank\">ForexYard.<\/a><\/span><\/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>The liquidity exit of the European Central Bank (ECB) may soon drive regional rates higher than Denmark\u2019s and subsequently dampen demand for the Danish krone (DKK). Despite their dependence<\/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-15187","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/15187","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=15187"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/15187\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=15187"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=15187"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=15187"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}