Swedish Krona Rises To 5-day High Versus Euro After Sweden Data
May 05 2015 - 4:33AM
RTTF2
The Swedish Krona drifted higher against the euro during early
European deals on Tuesday, after data showed that Sweden's orders
registered a recovery and industrial production growth exceeded
expectations.
Industrial output rose unexpectedly by 0.3 percent ear-on-year,
in contrast to a 3.9 percent decline seen in February. Economists
had forecast a 0.4 percent drop for March.
Orders grew 3.7 percent in March from February when it declined
by revised 2.6 percent. On a yearly basis, orders for industry
increased 1.4 percent, partially offsetting the 3.2 percent decline
a month ago.
The krona advanced to a 5-day high of 9.2748 against the euro,
up from Monday's closing value of 9.3272. The next possible
resistance for the Swedish currency is seen around the 9.25
zone.
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