EUR/SEK settles below 10-week high, posts weekly loss
The EUR/SEK currency pair settled below recent high of 11.1777, its strongest level since April 16th, after French and Spanish inflation figures for June outpaced market consensus.France’s annual cons
The EUR/SEK currency pair settled below recent high of 11.1777, its strongest level since April 16th, after French and Spanish inflation figures for June outpaced market consensus.
France’s annual consumer inflation picked up to 0.9% in June, preliminary data showed, from 0.7% in May (the lowest rate since February 2021).
Spain’s annual CPI inflation picked up to 2.2% in June from 2% in May (the lowest rate since October 2024).
The data could add to speculation that the European Central Bank is moving closer to the end of its monetary easing cycle.
Elsewhere, Sweden’s trade surplus has narrowed to SEK 3.9 billion in May from SEK 10.6 billion in the same month of 2024. It has been the smallest surplus since December 2024, data by Statistics Sweden showed.
Total exports shrank 9.6% year-on-year to a five-month low of SEK 169.6 billion.
The EUR/SEK currency pair settled 0.02% higher at 11.1079 on Friday.
The exotic Forex pair lost 0.21% for the week.
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