Forex: EUR/SEK in session highs, around 8.6350

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FXstreet.com (Barcelona) - The Swedish krona is markedly depreciating against the euro on Friday, pushing the pair to the proximities of 8.6350 after the unemployment rate in Sweden ticked higher to 4.8% during December.

In the opinion of K.Kirkegaard, Senior Analyst at Danske Bank, "Swedish registered unemployment rose to 4.8%. A welcome relief is that the number of layoffs fell to 5700 after two months in a row around 10000. At the same time vacancies fell. Hence, a mixed report. High unemployment is a factor holding back consumption (as illustrated by clothing sales falling 3.7% y/y)".

EUR/SEK is up 0.26% at 8.6347 with the next resistance at 8.6510 (high Dec.24) and then 8.6740 (high Dec.20).
On the downside, a break below 8.5070 (Lower Bollinger) would clear the way to 8.5060 (low Jan.4) and finally 8.5000 (low Nov.8).



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Forex and Currencies

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