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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.
SCANDIS
SEK remains the G10 outperformer following a stronger than expected CPIF print this morning. NOK also finds some support as Brent futures approach levels seen earlier in the week.
- NOKSEK now trades just above parity, above daily lows and broadly flat on the day, after reaching an intra-day low of 0.9966 - the lowest level since June 29.
- While NOK began the week with tailwinds from stronger oil prices arising from concerns in the middle east, soft Norwegian and strong Swedish inflation has worked against NOKSEK, which is still around 1.5% lower than Monday's high.
- At 0930 BST/1030CET, the Riksbank releases data on its FX reserve hedging programme for the w/c 25 Sep. It is not yet clear how the data will be presented or what market expectations are for the hedging progress.
- The Riksbank aims to complete its hedging of USD8bln and EUR2bln within 4-6 months, and the below table gives initial indications of how much they need to sell each day if they smoothed sales (sold the same USD/EUR amount each day).
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.
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