- EUR/SEK: Target set at 11.60 in 6-12 months – Danske Bank
Market news
26 January 2024
EUR/SEK: Target set at 11.60 in 6-12 months – Danske Bank
Last year ended on a strong note for the Swedish Krona (SEK). Economists at Danske Bank analyze EUR/SEK outlook.
Global macro cycle does not bode well for the SEK in 2024
The cyclical backdrop remains a headwind for the SEK amid subpar and even recession-like European growth outlook.
The Riksbank will not lag the ECB in the easing cycle, which leaves the SEK in a vulnerable position. Repricing of central banks may hurt risk sentiment.
The structural flows picture is still a medium-term headwind for the SEK.
Should the global economy pick up more than expected in 2024, this could lend support to the SEK over the medium term.
Forecast 11.20 (1M), 11.40 (3M), 11.60 (6M), 11.60 (12M)
Market Focus
Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimerOpen Demo Account & Personal Page