CANADA TO PUBLISH FISCAL UPDATE ON DEC. 16

MNI BRIEF: Inflation Expectations Tick Higher - NY Fed

MNI BRIEF: China Passenger Car Sales Up In November Y/Y

MNI BRIEF: Mexico Inflation Down To 4.55% In November

MNI China Daily Summary: Monday, December 9

MNI BRIEF: China To Strengthen Policy Easing In 2025: Poliburo

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

EZ/UK T-Bill Calendar: Spain, Belgium Auction on Tuesday

MNI:US OCT WHOLESALE INV 0.2%; SALES -0.1%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Underperforms As Soft EZ HICP Reduces Riksbank Hike Needs

SEK

SEK underperforms the G10 this morning, with little in the way of domestic news flow to back the move. However, EURSEK and USDSEK still sit below the respective 20 to 200-day EMAs, after reaching multi-month lows yesterday.

  • The softening of EZ inflation has served to increase ECB rate cut bets. All else equal, this reduces the need for the Riksbank to hike at its February meeting, reducing scope for the rate-differential channel to support the SEK in 2024.
  • NOKSEK remains within its recent range with 0.9831 the main resistance (June 26 low).
  • This week's Riksbank-speak from Thedéen, Jansson and Flodén has not been of major note, with the November meeting minutes released on Dec 4 the main focus.
  • Non-manual workers' wages remained at elevated levels in September at 4.6%, but this was not a market mover. Tomorrow's manufacturing PMI will be compared to November's Economic Tendency Indicator, where manufacturing confidence was a relative bright spot amid a weak sectoral field.
BulletMarketsForeign Exchange BulletsHomepage
BulletMarketsForeign Exchange BulletsHomepage

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.