27 Feb 2015
EUR/SEK tests 9.3300 post-GDP
FXStreet (Edinburgh) - The Swedish krona is picking up pace vs. the euro on Friday, sending EUR/SEK to test fresh lows around 9.3300 the figure.
EUR/SEK lower after data
The cross is rapidly lost ground after results in Sweden surprised markets to the upside today: figures from the GDP noted the Nordic economy expanded at an annual pace of 2.7% (1.5% exp.) during the last three month of 2014 and 1.1% inter-quarter (0.5% exp.).
In addition, Retail Sales rose 1.2% on a monthly basis in January, taking the annual expansion to 5.1%. Both prints have surpassed estimates at 0.5% and 3.8%, respectively.
EUR/SEK important levels
The cross is now losing 0.545 at 9.3597 and a breach of 9.3061 (low Jan.30) would expose 9.2681 (low Jan.28) and then 9.2461 (low Dec.2). On the other hand, the initial resistance aligns at 9.5405 (high Feb.25) followed by 9.5843 (high Feb.19) and finally 9.6883 (high Feb.12).
EUR/SEK lower after data
The cross is rapidly lost ground after results in Sweden surprised markets to the upside today: figures from the GDP noted the Nordic economy expanded at an annual pace of 2.7% (1.5% exp.) during the last three month of 2014 and 1.1% inter-quarter (0.5% exp.).
In addition, Retail Sales rose 1.2% on a monthly basis in January, taking the annual expansion to 5.1%. Both prints have surpassed estimates at 0.5% and 3.8%, respectively.
EUR/SEK important levels
The cross is now losing 0.545 at 9.3597 and a breach of 9.3061 (low Jan.30) would expose 9.2681 (low Jan.28) and then 9.2461 (low Dec.2). On the other hand, the initial resistance aligns at 9.5405 (high Feb.25) followed by 9.5843 (high Feb.19) and finally 9.6883 (high Feb.12).