Sell EUR vs SEK on Riksbank, Sweden Data Improvement: Danske
Source: BFW (Bloomberg First Word)
Tickers
1083Z SS (Sveriges Riksbank)
People
Stefan Mellin (Danske Bank A/S)
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UUID: 7947283
(Bloomberg) -- EUR/SEK is trading too high, primarily driven by recent Sweden data disappointments; sell EUR/SEK as Riksbank will shadow but not ease more aggressively than the ECB, and Sweden data will probably turn around, Danske Bank senior analyst Stefan Mellin writes in a client note.
Alert: HALISTER1- Sell EUR/SEK at 9.5688, target 9.40, with a stop loss at 9.65
- Riksbank is trying to shadow the ECB, but are in a relative tapering mode
- Riksbank will not “out-ease”, nor will Swedish QE as a share of GDP outpace, the ECB
- Recent SEK under-performance has been driven by weaker-than- expected Sweden data; data surprises are mean-reverting, and Danske says it is only a matter of time before data surprises to the upside
Source: BFW (Bloomberg First Word)
Tickers
1083Z SS (Sveriges Riksbank)
People
Stefan Mellin (Danske Bank A/S)
To de-activate this alert, click here
UUID: 7947283