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8 May 2015
SEK vigilant on Riksbank minutes and inflation – TDS
FXStreet (Edinburgh) - According to Jacqui Douglas, Chief European Macro Strategist at TD Securities, markets will follow the performance of SEK in light of the Riksbank minutes and the inflation figures due next week.
Key Quotes
“Sweden has CPI data and the minutes from the last Riksbank meeting on the 12th, and then the Prospera inflation expectations survey on the 13th”.
“For inflation we look for CPIF to remain unchanged at 0.9% Y/Y for the third month in a row, a tenth below the Riksbank’s forecast from the April MPR”.
“This softness is largely on base effects, as we saw a pop higher in Swedish inflation last April, which will fall out of the equation”.
“The Riksbank minutes out that morning should give us a better idea of why the Riksbank left rates on hold at its last meeting, even though about ¾ of analysts were looking for some degree of rate cut, and then inflation expectations the next day will give us a better idea of how durable this lift in actual inflation might be”.
Key Quotes
“Sweden has CPI data and the minutes from the last Riksbank meeting on the 12th, and then the Prospera inflation expectations survey on the 13th”.
“For inflation we look for CPIF to remain unchanged at 0.9% Y/Y for the third month in a row, a tenth below the Riksbank’s forecast from the April MPR”.
“This softness is largely on base effects, as we saw a pop higher in Swedish inflation last April, which will fall out of the equation”.
“The Riksbank minutes out that morning should give us a better idea of why the Riksbank left rates on hold at its last meeting, even though about ¾ of analysts were looking for some degree of rate cut, and then inflation expectations the next day will give us a better idea of how durable this lift in actual inflation might be”.