The Danske research team keeps its EUR/SEK outlook unchanged. The cross rate is currently calmly around 10.80, and NOK/SEK is again above 0.98. The bank maintains its current forecast profile, forecasting the EUR/SEK exchange rate at 11.00 over a 6-12 month horizon, reflecting the relatively stable situation of the Swedish krona (SEK) and the lack of a major reassessment of fundamentals.
EUR/SEK can be seen around 11:00 later
“In Sweden, Riksbank’s Per Jansson said the VAT cut on food is putting downward pressure on inflation, while higher energy costs are pushing inflation upwards. He therefore noted that this supply shock is largely manageable, although vigilance remains warranted. He added that the situation remains different to 2022 as inflation pressures are now lower, demand weaker and the SEK stronger.”
“Meanwhile, the EUR/SEK rate remains at 10.80 for now.”
“For EUR/SEK, we leave our forecast profile unchanged, forecasting EUR/SEK at 11.00 over the 6-12 month period.”
“For EUR/NOK, we remain skeptical about the durability of the rally and therefore leave our forecast profile for this month unchanged, maintaining growth in the 6-month and 12-month periods.”
As a result, NOK/SEK returned above 0.98. EUR/DKK is stuck near the level of 7.4732.
(This article was created with the facilitate of an artificial intelligence tool and has been reviewed by an editor.)
