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Sweden GDP Growth Rate YoY
Timber, hydropower, and iron ore are among Sweden's natural resources, which contribute to its high reliance on foreign trade. It is estimated that the engineering sector accounts for around 50% of output and exports. Among the expenditure components of GDP, household consumption is first, accounting for 46% of total usage, followed by government consumption (26%) and gross fixed capital formation (23%). 45% of the GDP is accounted for exports of goods and services, while imports account for 41%, with the latter accounting for 4% of the overall GDP.
A higher than expected figure should be seen as positive (bullish) for the SEK while a lower than expected figure should be seen as negative (bearish) for the SEK.
Forex Sentiment (SEK)
| Symbol | Community Trend (Shorts vs Longs) | Symbol Popularity | Avg. Short Price / Distance From Price | Avg. Long Price / Distance From Price | Current Price | |
|---|---|---|---|---|---|---|
| EURSEK |
|
|
11.2212 -221 pips |
11.2539 -106 pips |
11.2433 | |
| USDSEK |
|
|
9.5297 -225 pips |
9.9068 -3546 pips |
9.5522 | |
| GBPSEK |
|
|
12.8783 -1665 pips |
13.1869 -1421 pips |
13.04482 | |
| SEKJPY |
|
|
14.7570 -36 pips |
0 +1511 pips |
15.112 | |
| NOKSEK |
|
|
0.9436 -44 pips |
0.9559 -79 pips |
0.9480 |
News (SEK)
Riksbank To Cut Policy Rate Twice This Year To 1.75%, Swedish Think Tank NIER Says
Sweden's central bank is set to lower interest rates twice this year due to the economic downturn and subdued inflation outlook, the National Institute of Economic Research said on Tuesday as it lowered the growth forecast for the economy.
RTTNews | 16 days ago
Sweden Central Bank Trims Rate By 25 Bps
Sweden's central bank reduced its benchmark rate by a quarter-point on Wednesday to further support the economy and stabilize inflation at the target and also signaled that the easing cycle is coming to an end. The Executive Board of Riksbank decided to cut the policy rate by 25 basis points to 2.5 percent. The outcome of the meeting widely matched expectations.
RTTNews | 155 days ago
Riksbank Signals End To Easing Cycle
Sweden's central bank lowered its policy rate for a fifth time this year, cutting it by 25 basis points in order to support the economy and signaled one last reduction in the first half of next year. The Executive Board of Riksbank, led by Governor Erik Thedéen, decided to cut the policy rate to 2.50 percent from 3.0 percent on Thursday. The outcome matched expectations.
RTTNews | 196 days ago
