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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 have announced that in the first week of its FX hedging programme (w/c 25th Sept), it sold USD390m and EUR0 (zero).
- Using our simple measure of how much the Riksbank would need to sell each day to finish its hedging programme in 4, 5, or 6 months, the USD figure falls between the 5-6 month point.
- As noted, EURSEK is currently down ~0.5% on the day and lies above the 200-day EMA at 11.5047. The move is a combination of the strong CPI print and the zero EUR sold by the Riksbank - implying more "ammunition" can be used in future weeks.
- USDSEK sits ~0.7% lower on the day, breaching the 50-day EMA at 10.9476.
- The Riksbank only reported weekly sales of EUR and USD - not more granular daily figures.
- See the link here for the release: https://www.riksbank.se/en-gb/markets/the-gold-and...
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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