30 Jun 2014
EUR/SEK eyes ECB and Riskbank meetings - UBS
FXStreet (Córdoba) - The UBS analyst team commented that the EUR/SEK is unlikely to fall before the Riskbank meeting Thursday, as investors are wary of a dovish central bank.
Key Quotes
“The EUR/SEK rose slightly in response to lower-than-expected Swedish retail sales growth in May. However, with the year-over-year rate still at 3%, we would argue that this is still in line with our view of strong Swedish growth”.
“Regardless, EUR/SEK is unlikely to fall before the upcoming Riksbank meeting on 3 July, as investors are wary of a dovish central bank”.
“Given the Norges Bank's recent dovish surprise, there is a risk that the Riksbank follows with a similar reaction”.
Key Quotes
“The EUR/SEK rose slightly in response to lower-than-expected Swedish retail sales growth in May. However, with the year-over-year rate still at 3%, we would argue that this is still in line with our view of strong Swedish growth”.
“Regardless, EUR/SEK is unlikely to fall before the upcoming Riksbank meeting on 3 July, as investors are wary of a dovish central bank”.
“Given the Norges Bank's recent dovish surprise, there is a risk that the Riksbank follows with a similar reaction”.