USD/SEK Steadies as Upbeat Swedish GDP Caps the Further Gains
The Swedish krona held steady against the US dollar on Wednesday as Gross Domestic Product in Sweden rose 0.9%, measured on a monthly basis, in May, compared with 0.6% in the previous month and 0.03% of market forecasts. From the US front, US crude oil inventories dropped by 399,000 barrels in the week ending July 3, after a 6.072 million-barrel draw the previous week. In Wednesday's G10 trading, the SEK dropped against all other currencies except the Japanese yen. The high-impact event for the Swedish krona will be the inflation data for June, due on July 15. For the USD, the major event will be the FOMC Minutes, due later in the day. At the time of writing, the USD/SEK pair was trading at 9.70604, with a 0.11% gain during the American trading session on Wednesday.
The Swedish krona held steady against the US dollar on Wednesday as Gross Domestic Product in Sweden rose 0.9%, measured on a monthly basis, in May, compared with 0.6% in the previous month and 0.03% of market forecasts.
From the US front, US crude oil inventories dropped by 399,000 barrels in the week ending July 3, after a 6.072 million-barrel draw the previous week.
In Wednesday's G10 trading, the SEK dropped against all other currencies except the Japanese yen.
The high-impact event for the Swedish krona will be the inflation data for June, due on July 15.
For the USD, the major event will be the FOMC Minutes, due later in the day.
At the time of writing, the USD/SEK pair was trading at 9.70604, with a 0.11% gain during the American trading session on Wednesday.