-
Policy
Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM POLICY: -
EM Policy
EM Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM EM POLICY: -
G10 Markets
G10 Markets
Real-time insight on key fixed income and fx markets.
Launch MNI Podcasts -
Emerging Markets
Emerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
-
Commodities
Commodities
Real-time insight of oil & gas markets
-
Credit
Credit
Real time insight of credit markets
-
Data
-
MNI Research
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
-
About Us
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
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.
Real-time Actionable Insight
Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessNOKSEK nearing key support
- NOKSEK is looking at interesting levels, having broken through the 200-dma yesterday. Swedish inflation came in higher than expected yesterday and we saw some analysts more to change their base case in favour of looking for 50bp hikes (and potentially even inter-meeting hikes).
- NOKSEK key support lies at the 1.0200 handle. This is highlighted by:
- 1.0210, the 50.0% retracement of the major bull rally between November 2020 and March this year.
- 1.0202, a trendline support drawn from the Jul 20, 2021 low.
- Clearance of this support would strengthen bearish conditions. The trend condition is oversold, however, a reversal signal in price is required to highlight a potential short-term base. The cross remains vulnerable - for now.
- From a fundamental point of view after yesterday's inflation print the market is already starting to look for a more aggressive hiking path. And as we noted in the April MNI Riksbank Review, we didn't think the bar to a 50bp hike was as high as some had expected, and that view is now being priced into the market. The Riksbank's alternative scenario contained in our calculations a 100% probability of a 50bp June hike with 131bp of hikes in the remaining three meetings of the year.
- However, we think given the technical support level and the moves seen so far, we will probably need to see a trigger to break lower (possibly a Riksbank member more openly discuss 50bp?).
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
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.