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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.
RIKSBANK
The Riksbank sold $420mln and E0mln in its 16th week of FX hedging (W/C 8/1 - 12/1). This compares to $70mln and E350mln last week. Overall, the Riksbank has now hedged around 89% and 78% of the $8bln and E2bln initially announced respectively.
- As expected, the pace of USD sales picked up in the second week of January. Current tracking suggests the Riksbank will conclude its USD hedging in early February, which implies that the $8bln initially announced will be hedged in around 5-months from the w/c Sep 25.
- The Riksbank initially estimated the USD and EUR hedging would be completed within 4-6 months from w/c Sep 25.
- There were no EU membership payments made in the w/c Jan 8, meaning no Euro sales were reported.
- We do not expect the Riksbank to make any announcements on FX hedging at next Thursday's meeting.
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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