EUR/SEK stays constructive – Danske Bank

Pablo Piovano FXStreet

Chief Analyst at Danske Bank Christin Tuxen reviewed the recent performance of the cross.

Key Quotes

“The setback in EUR/SEK from above 10.20 was justified, as the cross became heavily overbought (RSI) and was prone for a correction but has also gone hand in hand with lower EUR-SEK relative rates, a period of improved house market sentiment and the fall in the relative surprise index”.

“As for rates and housing, it should be a temporary ‘stabilisation’, rather than a sustained turnaround”.

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

EUR/USD turns negative near 1.1850

EUR/USD has given up its earlier intraday gains on Thursday and is now struggling to hold above the 1.1850 area. The US Dollar is finding renewed support from a pick-up in risk aversion, while fresh market chatter suggesting Russia could be considering a return to the US Dollar system is also lending the Greenback an extra boost.

GBP/USD change course, nears 1.3600

GBP/USD gives away its daily gains and recedes toward the low-1.3600s on Thursday. Indeed, Cable now struggles to regain some upside traction on the back of the sudden bout of buying interest in the Greenback. In the meantime, investors continue to assess a string of underwhelming UK data releases released earlier in the day.