USD/SEK Trading forecasts and signals

In the macroeconomic statistics coming out next week, the following indicators can be distinguished: Monday In Japan, retail sales and industrial production data will be released, as well as the consumer confidence index and the volume of orders in the construction sector. In China, the index of business activity in the service sector and in the manufacturing sector will be published. The National Bank of New Zealand will provide an activity forecast, and the Reserve Bank will provide an index of business optimism. Private sector lending data will be released in Australia.In Spain and Italy, inflation data will be released, and in the Eurozone – consumer credit indicators. In Germany, inflation data will also be available, including the main and harmonized consumer price indices.In Canada, the price indices for industrial products and raw materials, as well as the balance of payments, will be published. In the United States, Memorial Day is celebrated, banks and stock exchanges are closed, and macroeconomic statistics are not published.Tuesday In Australia, the index of activity in the manufacturing sector from AiG and the PMI in the manufacturing sector from the Commonwealth Bank will be published. And also in Australia, the number of building permits and the trade balance will be published. The Reserve Bank of Australia will hold a meeting to announce the regulator's decision on the interest rate. Construction permits will be issued in New Zealand. In Japan, capital expenditures and the Jibun Bank PMI index in the manufacturing sector will be released. China will publish the Caixin Manufacturing PMI.The next OPEC meeting will be held in Vienna. In the UK, the Nationwide house price index will be known. In Russia, Sweden, Spain, Italy, France, Germany, the Euro area and the United Kingdom, Markit will release indicators of business activity in the manufacturing sector. Switzerland will publish the real volume of retail trade, the SVME business activity index and economic growth indicators for the first quarter of 2021. In Germany, the unemployment rate and the change in the number of unemployed will be released. In the euro area, the unemployment rate and inflation indicators, including the basic and main consumer price indices, will be published. Bank of England Governor Andrew Bailey will make a speech.In Canada, GDP growth data for the first quarter of this year and the indicator of business activity in the manufacturing sector will be released. In the US, the Redbook retail sales index, the ISM manufacturing PMI, an indicator of economic optimism, construction spending data and the Dallas Federal Reserve Industrial PMI will be published. Fed representative Lal Brainard will give a speech.Wednesday New Zealand will publish the Terms of trade index. In Australia, economic growth data for the first quarter of 2021 will be released.In Germany, retail sales data will be available, and in the UK, consumer credit data and the number of approved applications for unemployment benefits will be available. In the Eurozone, the producer price index will be released. The head of the Bundesbank, Jens Weidmann, will make a speech.In Canada, the number of building permits will be released. In the US, the MBA Mortgage Lending Index, the Redbook retail sales index and the Fed's Beige Book Economic Review will be published. The American Petroleum Institute will report on oil reserves for the past week.Thursday In Australia, the AiG construction sector activity index, the Commonwealth Bank Services PMI, import and export indicators and the overall trade balance will be published. In Japan, foreign and domestic investment data and Jibun Bank's manufacturing PMI will be released. The National Bank of New Zealand will provide an activity forecast, and the Reserve Bank will provide an index of business optimism. In China, the Caixin manufacturing PMI will be released.Russia, France, Spain, Italy, Germany, the Euro zone and the UK will publish indices of business activity in the service sector. The UK will hold a hearing on the inflation report. Bank of England Governor Andrew Bailey will make a speech.In the US, the ADP report on the level of employment in the private sector, the number of initial and repeated applications for unemployment benefits, costs per unit of labor, the index of business activity in the service sector will be released. The Energy Information Administration will report last week on natural gas reserves in the United States.Friday In Japan, data on household spending will be released. In Australia, the indicators of mortgage loans and investment loans for the construction of houses will be published.In the UK, the index of business activity in the construction sector will be known. In the euro area, retail sales data will be released.In Canada, labor productivity indicators are released. In the US, employment market data for May will be released, including the number of new jobs outside of agriculture, the unemployment rate, the share of the labor force in the total population and average hourly wages. Canada will also publish the unemployment rate, the change in the number of employees, the level of average hourly wages and the Ivey business activity index. Baker Hughes will report on the number of active oil rigs last ...

The price of Bitcoin (BTC) has fallen to the support of $56000. Ethereum (ETH) declined to the level of $1960, and Ripple (XRP) - to the level of 0.91 USD. The total capitalization of the cryptocurrency market was 1.87 trillion US Dollars.Investments in cryptocurrency funds and products reached $4.5 billion in the first quarter, which indicates the continued growth of investments by institutional investors. According to Reuters data, investments in cryptocurrency funds and products increased by 11% in the first three months of this year. However, the growth of investment in cryptocurrencies in 2021 slowed down compared to the pace of the second half of last year. The volume of crypto assets under management also rose to a new high of $59 billion. Grayscale is still the largest crypto asset manager with $46.1 billion. At the end of March, CoinShares presented a weekly report on financial institutions' investments in cryptocurrency products, noting that new investments by institutional investors in Bitcoin fell to the level of October 2020. The volatility of cryptocurrencies is often cited as one of the reasons why Wall Street investors shy away from investing in Bitcoin. However, JPMorgan believes that the indicator will normalize and attract more institutional investors.The Bank of Sweden has completed the first phase of pilot testing of the digital crown (SEK). The technology of national digital currencies requires further development, in particular in the aspect of scalability. Such conclusions are contained in the Riksbank report on the results of the first phase of testing. The regulator modeled the main aspects of the potential system, including the distribution of liquidity through prospective intermediaries using the RIX settlement system. The project is based on the R3 blockchain from Corda. The regulator said the technology's ability to manage retail payments on a large scale required further research and testing. The central bank also noted some privacy concerns. The second phase of the trial will focus on potential digital crown (SEK) suppliers, its storage methods, and its effectiveness in retail payments. The researchers will also test the system's autonomous functionality and integration with point-of-sale terminals. In December 2020, it was reported that the Swedish government would decide to issue a digital crown (SEK) within two years.In the trading forecast I set signals - further correction of Bitcoin (BTC) to the level of  55000 US Dollars, Ethereum (ETH) will decline to the level of 1900 USD, and Ripple (XRP) - to the price value of  0.85 ...

Another exotic highly volatile currency pair with a crown, but this time Swedish – USD/SEK.This instrument is similar in many respects to another Scandinavian pair – USD/NOK, but not in everything.The chart for the dollar with the Swedish krona resembles a similar one with the Norwegian one: fast and sharp price movements during the day, with alternating drops and ups, in total, winding up 700-900 points per day, and sometimes more. Also, as with NOK, on timeframes less than H1-H4, the pair is very unpredictable.Today, the pair has some correlation with the iron ore price chart, since the country is a major exporter of it. There is a very large correspondence with the USD/CHF (95%) and USD/DKK (91%, in fact, they move with the Swedish krona in parallel), but there is little correlation with the dollar index chart, only about 4.2%.USD/SEK forecast for today and quote onlineThe forecast for today is based on technical analysis using more than 15 indicators. The strongest forecast is with the prefix Active. The most obvious signal in the medium and short term appears at the moment when all values with the prefix are actively repeated at all time intervals.Due to the significant difference between the economies of the countries whose currencies are combined in this instrument, it can be difficult to make an accurate forecast. Novice traders are not recommended to take up this currency pair, both because of unpredictability and because of its high volatility.If you are going to make a forecast for the USD SEK pair before entering the market, it will never be superfluous to read the latest analytics published by brokers on their websites, although it is worth noting that there are very few of them on the network for this exotic financial instrument, so you will have to rely on yourself to a greater extent.The current strength of the dollar and the presence of serious problems in the Swedish economy, which can easily pull the crown far down, are in favor of strengthening the pair.Read more: USDPLN - description, characteristics, forecasts and feautures of the pairGeneral characteristics of the currency pairThe USDSEK currency pair is an exotic pair with a direct exchange rate. The base currency is the US dollar, which is quoted by the Swedish krona. The trading volume for this pair is small, which explains the large spread. The exchange rate is displayed up to 4 characters after the separator (9.0080), some brokers and individual terminals display 5 characters after the separator (9.00783).The pair trades most actively during the European session and at its intersection with the American one. On the days of the week, the most volatile for USD/SEK, as for most other pairs, is Thursday, the least is Monday.For successful trading with such a tool as the US Dollar against the Swedish Krona, it is desirable to have a sufficient deposit size. This is especially important when it comes to long-term retention of open positions, for example, in the case of trading using the carry-trade strategy (to get a solid profit on swaps, purchase orders must be left open for a long period of time), when the dynamics of the exchange rate may change several times in the short term.Analytics and factors of influence on which the course dependsThe main place in the structure of the American economy is occupied by services and trade (up to 79.6%), in second place is industry with 19.2% of GDP, the rest is accounted for by agriculture. Not the last place is occupied by domestic and international tourism. International trade occupies an important place in the American economy, as the country buys and sells huge volumes of goods. First of all, these are the countries with which the United States has signed the NAFTA free trade agreement (Canada and Mexico), but also a considerable trade turnover with the EU and China.Read more: USD/MXN: quotes, signals, online trading forecasts for today, characteristics and featuresThe Swedish economy began to develop actively after the Second World War and now represents a sufficiently developed specific model combining elements of socialist and capitalist orientation, which, coupled with long-term neutrality, allowed us to achieve a high level of well-being and scientific progress. To analyze and identify important long-term trends in the Swedish krona, it is necessary to have a clear understanding of the country's economy, its orientation, main industries and main sources of income.Approximately 69% of the country's GDP is generated by services and trade, industrial production in Sweden accounts for about 29%, agriculture provides no more than 2%. The economy is export-oriented.From the 60s - 70s, the rapid development of high–tech production in the field of electronics, mechanical engineering, instrumentation, etc. began. One of the most important export items for Sweden is not only the supply of raw materials (iron ore, wood and derivatives: furniture, paper, etc.), but also ready-made appliances, cars (Skoda, Saab), telecommunications equipment.Sweden's main trading partner is the European Union, which it itself is also a member of, but if we take specifically by country, the largest amount of exports goes to neighboring Scandinavian countries (Norway, Finland, Denmark).The most important factors influencing the value of the price of the USD/SEK pair are:The cost of raw materials (iron ore, timber);Central Bank rates;Oil prices (have an impact on the US dollar);Trade balances of both countries;The situation on the labor market (in both countries);The political and economic situation in the European Union as a whole.Read more: USD/DKK: exchange rate, online chart, signals & forecasts for todayFeatures of the currency pair and tradingThe pair is not widespread in Forex, but it can be very profitable in the hands of a skilled trader, bringing hundreds of percent of the profit from the invested deposit in long-term trend trading. Also, due to the high volatility, the tool allows scalping, but regardless of the piper's experience, there is a serious risk of running into impressive losses.Carry-trade on the pair is possible because the refinancing rates are very different: 0.75% in the USA (at the time of writing) and -0.5% in Sweden, however, before you start trading this instrument using the carry-trade strategy, be sure to check the trend and prices for swaps on buy and ...