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SEK: USDSEK Tests Pivot Support At 10.1500.

SEK
USNorth AmericaBulletSwedenGlobalForeign Exchange BulletsRegionMarkets

USDSEK tests key pivot support around 10.1500, with Fed rate cut speculation helping keep the dollar under pressure. The pair is 0.2% lower today. This level was last tested in late-August and has proved a significant inflection point across the past 2 years.

  • The Fed decision is set to dictate global risk sentiment, and by extension risk-sensitive currencies like the SEK.
  • Today’s US retail sales / industrial production provide the final US data inputs ahead of tomorrow’s gathering, where Fed Fund futures price a ~70% implied probability of a 50bps cut.
  • The only domestic release of note this week is the August labour force survey – due tomorrow at 0700BST/0800CET. This is not expected to move the needle ahead of the Riksbank’s Sep 25 decision, with a 25bp cut well priced at this stage.
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USDSEK tests key pivot support around 10.1500, with Fed rate cut speculation helping keep the dollar under pressure. The pair is 0.2% lower today. This level was last tested in late-August and has proved a significant inflection point across the past 2 years.

  • The Fed decision is set to dictate global risk sentiment, and by extension risk-sensitive currencies like the SEK.
  • Today’s US retail sales / industrial production provide the final US data inputs ahead of tomorrow’s gathering, where Fed Fund futures price a ~70% implied probability of a 50bps cut.
  • The only domestic release of note this week is the August labour force survey – due tomorrow at 0700BST/0800CET. This is not expected to move the needle ahead of the Riksbank’s Sep 25 decision, with a 25bp cut well priced at this stage.