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SEK: SEB Point To Mixed SEK Rebalancing Needs Ahead of Month/Quarter/Year-end

SEK
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SEB’s month-end rebalancing model notes that typical Swedish portfolio managers will need to sell SEK in December (0.2% share of stylized portfolio). The most pronounced buying need will be in USD (0.4% share).

  • However, their quarterly and yearly models instead point to SEK buying and USD selling needs.
  • On a quarterly lookback, portfolio managers will need to buy SEK worth 0.8% of the stylized portfolio and sell USD worth 0.7%.
  • On an annual lookback, SEK buying needs total 2.5%, while USD selling needs total 2.9%.
  • USDSEK is in the process of consolidating above the trendline drawn from the September 2022 high, with yesterday’s Riksbank-inspired selloff not enough to counter the bullish technical setup. Initial support is the 20-day EMA at 10.9580.
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SEB’s month-end rebalancing model notes that typical Swedish portfolio managers will need to sell SEK in December (0.2% share of stylized portfolio). The most pronounced buying need will be in USD (0.4% share).

  • However, their quarterly and yearly models instead point to SEK buying and USD selling needs.
  • On a quarterly lookback, portfolio managers will need to buy SEK worth 0.8% of the stylized portfolio and sell USD worth 0.7%.
  • On an annual lookback, SEK buying needs total 2.5%, while USD selling needs total 2.9%.
  • USDSEK is in the process of consolidating above the trendline drawn from the September 2022 high, with yesterday’s Riksbank-inspired selloff not enough to counter the bullish technical setup. Initial support is the 20-day EMA at 10.9580.