USD/SEK Re-Tests 3 Year Lows After Strong Swedish Unemployment Report
The USDSEK pair continues its downward momentum after data from Sweden for March (seasonally adjusted) unexpectedly showed a low unemployment rate of 8.1%, compared to the forecasted 8.7% and the previous 8.9%. Such a strong result, combined with the weak momentum of the U.S. dollar, has pushed the pair to levels not seen since April 2022. However, despite the strong data from Sweden, the declines in USD/SEK today are relatively small, with the Swedish Krona gaining around 0.06% against the dollar, indicating potentially limited selling pressure from current ‘oversold’ levels. The pair may wait for another volatility trigger.
Source: xStation5
The material on this page does not constitute financial advice and does not take into account your level of understanding, investment objectives, financial situation or any other specific needs. All information provided, including opinions, market research, mathematical results and technical analyzes published on the Website or transmitted To you by other means, it is provided for information purposes only and should in no way be construed as an offer or solicitation for a transaction in any financial instrument, nor should the information provided be construed as advice of a legal or financial nature on which any investment decisions you make should be based exclusively To your level of understanding, investment objectives, financial situation, or other specific needs, any decision to act on the information published on the Website or sent to you by other means is entirely at your own risk if you In doubt or unsure about your understanding of a particular product, instrument, service or transaction, you should seek professional or legal advice before trading. Investing in CFDs carries a high level of risk, as they are leveraged products and have small movements Often the market can result in much larger movements in the value of your investment, and this can work against you or in your favor. Please ensure you fully understand the risks involved, taking into account investments objectives and level of experience, before trading and, if necessary, seek independent advice.
