FxWirePro: Swedish Krona gains on upbeat economic data
The Swedish Krona surged following the release of upbeat induatrial inventories figures. Sweden's industrial inventories increased by SEK 2.1 billion in the second quarter of 2020, following an upwardly revised SEK 5.8 b…
The Swedish Krona surged following the release of upbeat induatrial inventories figures.
Sweden's industrial inventories increased by SEK 2.1 billion in the second quarter of 2020, following an upwardly revised SEK 5.8 billion in the previous period.
Moreover, weakness in the dollar index further supported the upside around the Swedish currency.
USD/SEK trades 0.05 percent lower at 8.6799, having hit a low of 8.6516 on Thursday, its lowest since August 6.
Immediate resistance is located at 8.7012 (7-EMA), any close above could take it near 8.7241.
On the lower side, support is seen at 8.6471, break below could take it till 8.6240..
