CANADA TO PUBLISH FISCAL UPDATE ON DEC. 16

MNI BRIEF: Inflation Expectations Tick Higher - NY Fed

MNI BRIEF: China Passenger Car Sales Up In November Y/Y

MNI BRIEF: Mexico Inflation Down To 4.55% In November

MNI China Daily Summary: Monday, December 9

MNI BRIEF: China To Strengthen Policy Easing In 2025: Poliburo

MNI:US OCT WHOLESALE INV 0.2%; SALES -0.1%

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

MNI BRIEF: China Nov CPI Slows To 5-Month Low Of 0.2% Y/Y

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

European Equity Uptick Lends Support To Scandis; Riksbank Minutes Eyed Tomorrow

SCANDIS

This afternoon's uptick in European equities lends support to the risk-sensitive Scandis, with SEK and NOK trading a touch stronger versus the G10 overall.

  • EURSEK trades comfortably within yesterday's range. The 50-day EMA at 11.3289 provides the first support, while clustered resistance can be seen at 11.4070 (100-day EMA), 11.4266 (Jan 19 high) and 11.4343 (200-day EMA).
  • Tomorrow's Riksbank's Jan minutes at 0830GMT/0930CET are the week's highlight in Sweden. We will be focused on the extent to which the dovish tilt in the guidance (r.e. opening the door to rate cuts in H1 2024) was a view shared amongst the Board, as well as further context surrounding the decision to accelerate the pace of QT to SEK6.5bln/month from SEK5bln prior. Governor Thedéen also speaks at the Estonian Central Bank at 0930GMT/1030CET.
  • After reaching a YTD high yesterday (11.5004), EURNOK has fallen -0.4% at typing at 11.4376. The 50- and 200-day EMAs (at 11.4358 and 11.4264) are the main supports at this stage. We get industrial production data for December tomorrow, but January CPI on Friday remains the main risk event in Norway this week.
BulletMarketsForeign Exchange BulletsHomepage
BulletMarketsForeign Exchange BulletsHomepage

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.