MNI China Daily Summary: Thursday, March 13

MNI BRIEF: China Has Been In Communication With U.S. On Trade

MNI BRIEF: China To Enhance Customs Clearance

MNI INTERVIEW2: Policy Lag Justifies Faster CNB Easing - Holub

MNI BRIEF: China Consumer Satisfaction Up

MNI: PBOC Net Drains CNY68.6 Bln via OMO Thursday

EZ/UK Bond Supply Calendar: SlovGB Auction Monday

US EIA:NAT GAS STORAGE -62 BCF TO 1,698 BCF MAR 07 WK

MNI: US FEB FINAL DEMAND PPI +0.0%, EX FOOD, ENERGY -0.1%

GERMANY: Union/SPD Migration Alignment After Turmoil Threatened Debt Deal (BILD)

GERMANY: Official Interim Election Results Tilt Towards Missing BSW & FDP

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

SEK: Targeted EU Tariffs The Key Upside Risk To EURSEK

SEK
USBulletSwedenMarketsForeign Exchange BulletsNorth America

The latest bid in European equity futures helps EURSEK pierce the Sep 27 low at 11.2450, exposing the June 20 low at 11.1824. EURSEK is on course for a seventh consecutive lower close, prompting to cross to screen as most oversold since 2012 on a 14-day RSI basis.

  • The combination of tighter EUR vs SEK rate differentials (following the January Riksbank minutes and higher-than-expected Swedish CPI reading) and buoyant European equities have provided a conducive environment for SEK strength this month.
  • Targeted US tariff action on the EU presents the most obvious upside risk to the cross. European risk assets have been happy to look through the last night’s steel/aluminium tariff announcement, but focus remains on the outcomes of the April 1 US trade policy report. This report is expected to provide Trump with an economic rationale to impose (further) tariffs on trade partners like China and the EU.
  • The 20-day EMA at 11.4161 represents key resistance in EURSEK, with shallower reversals considered to be corrective.
  • Riksbank Deputy Governor Seim is scheduled to speak at 1700GMT today, but text will be released at 1500GMT. Seim came across as one of the most cautious Executive Board members in the January Riksbank minutes.

 

image
197 words

To read the full story

Close

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.

The latest bid in European equity futures helps EURSEK pierce the Sep 27 low at 11.2450, exposing the June 20 low at 11.1824. EURSEK is on course for a seventh consecutive lower close, prompting to cross to screen as most oversold since 2012 on a 14-day RSI basis.

  • The combination of tighter EUR vs SEK rate differentials (following the January Riksbank minutes and higher-than-expected Swedish CPI reading) and buoyant European equities have provided a conducive environment for SEK strength this month.
  • Targeted US tariff action on the EU presents the most obvious upside risk to the cross. European risk assets have been happy to look through the last night’s steel/aluminium tariff announcement, but focus remains on the outcomes of the April 1 US trade policy report. This report is expected to provide Trump with an economic rationale to impose (further) tariffs on trade partners like China and the EU.
  • The 20-day EMA at 11.4161 represents key resistance in EURSEK, with shallower reversals considered to be corrective.
  • Riksbank Deputy Governor Seim is scheduled to speak at 1700GMT today, but text will be released at 1500GMT. Seim came across as one of the most cautious Executive Board members in the January Riksbank minutes.

 

image