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11 Apr 2013
Forex: EUR/SEK dips to session lows on higher CPI
FXstreet.com (Barcelona) - The Swedish krona is posting strong gains against the single currency on Thursday, after the Nordic consumer prices advanced 0.4% on a monthly basis, exceeding estimates. Over the last twelve months, prices came in flat, leaving behind the previous contraction of 0.2%.
In the opinion of Erica Blomgren, FI Strategist at SEB, “the recent advance of 2% in house prices during March would point to a hawkish bias from the Riksbank”, ahead of its next meeting.
At the moment, the pair is down 0.30% at 8.3345 with the next support at 8.3095 (low Apr.3) en route to 8.3051 (low Apr.2) and then 8.2840 (low Mar.27).
On the other hand, a surpass of 8.3910 (high Apr.10) would open the door to 8.4457 (high Apr.4) and finally 8.4585 (high Mar.25).