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EUR/SEK still looks overbought – Danske Bank

Chief Analyst at Danske Bank Allan von Mehren noted the cross still remains in overbought territory.

Key Quotes

EUR/SEK bounced back from highs earlier this week but still trades clearly higher than before the Riksbank decision”.

“The cross is overbought relative to short-term (and long-term) models, but the market is clearly not in SEK-buying mode and the cross could therefore easily go higher from here”.

“Today, we have the Riksbank Board in a recurrent Riksdag hearing, which may be a market mover. Hard to see anything else than last week’s dovish message coming out from that. But one never knows”.

 

ECB’s Hansson: latest Euro area developments are positive

The European Central Bank (ECB) Governing Council Member Ardo Hansson was on the wires last minutes, via Reuters, noting that the latest Euro area dev
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India: Manufacturing PMI catches up in April – Nomura

Analysts at Nomura note that India’s manufacturing PMI rose to 51.6 in April from 51.0 in March, an uptick after three months of decline. Key Quotes
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