FxWirePro: Swedish Krona retreats from 2-week peak despite better than expected economic data
The Swedish Krona eased after rising to a 2-week peak earlier in the session on better than expected economic data. Sweden's industrial production fell 0.2 percent from a year earlier in August, following an 8.0 percent …
The Swedish Krona eased after rising to a 2-week peak earlier in the session on better than expected economic data.
Sweden's industrial production fell 0.2 percent from a year earlier in August, following an 8.0 percent slump in the previous month. Meanwhile, on monthly basis, industrial production increased 7.80 percent in August from a revisd reading of 2.6 percent in July.
Separate data showed total orders received by industries was unchanged over a year earlier in August, following an upwardly revised 6.9 percent drop in the previous month.
USD/SEK trades 0.2 percent higher at 8.9044, having hit a low of 8.8758 earlier, its lowest since September 22.
Immediate resistance is located at 8.9226 (7-EMA), any close above could take it near 8.9543.
On the lower side, support is seen at 8.8660, break below could take it till 8.8330.
