Swedish Krona Rises To 3-day High Against Euro

04:23, 18th December 2014

(RTTNews) - The Swedish krona strengthened against the Euro in the early European session on Thursday after data showed that Sweden's economic sentiment increased unexpectedly in December.

Data from the National Institute of Economic Research showed that Sweden's economic sentiment increased unexpectedly to a one-year high in December. The economic tendency indicator rose to 105.8 in December from 103.8 in November. Economists had expected the index to fall to 102.9.

The total industry confidence index advanced to 107.6 from 104.7 in the previous month.

The consumer confidence index climbed more-than-expected to 99 from 96.9. Economists had expected the indicator to rise to 98.

Against the euro, the krona rose to a 3-day high of 9.3902 from an early low of 9.4717. At yesterday's close, the krona was trading at 9.4546 against the euro.

If the krona extends its uptrend, it is likely to find resistance around the 9.30 area.