- Analytics
- News and Tools
- Market News
- EUR/SEK: Global recovery hopes to underpin the krona - CIBC
EUR/SEK: Global recovery hopes to underpin the krona - CIBC
FXStreet notes that the SEK has gone from the strongest performing major currency versus both the USD and EUR in 2020, to something of an also-ran, after a lacklustre Q1. In the view of economists at CIBC Capital Markets, the longer-term outlook remains relatively constructive despite current covid concerns, which are set to weigh on near-term SEK sentiment.
“Forward-looking survey data continues to imply that activity should remain well supported, especially as we move towards H2. Of course as a small open economy, reliant upon both global trade and the performance of the German economy in particular, any signs of the eurozone recovery being materially delayed risk weighing on the SEK.”
“The extension of the lockdown and near-term corporate dividend outflows provides near-term SEK headwinds, indeed, we have tempered relative outperformance versus the EUR over the forecast profile. However, with the global economy still set to register a strong rebound in 2021, we still retain a constructive long-term SEK bias.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
