EUR/SEK challenges critical levels around 11.30. If Swedish economic data disappoints, the Krona could come under further downside pressure.

The Riksbank’s work is not getting any easier

“Some important economic data, such as the PMI tomorrow or household consumption next week, is on the agenda ahead of the rate decision next week, and the Riksbank is going to keep a close eye on it too.”

“For now, the market is pricing in a 50 bps rate step. If the data disappoints it might lower its expectations though, putting pressure on SEK as a result.”