Swedish Krona Rises To Near 4-month High Against Euro
March 05 2015 - 4:39AM
RTTF2
The Swedish krona strengthened against the euro in the early
European session on Thursday, after nation's industrial production
rose more than expected for January.
Data from Statistics Sweden showed that Sweden's industrial
production increased more than expected in January. Industrial
production rose a calendar-and-seasonally adjusted 1.0 percent
month-on-month in January, faster than a 0.4 percent rise forecast
by economists.
On a yearly basis, the industrial production index rose a
calender-adjusted 0.8 percent in January, confounding expectations
for a 0.4 percent fall.
Also, Industrial orders rose a calender-adjusted 8.9 percent
year-on-year in January.The domestic market orders rose by 0.7
percent and orders in the export markets increased by 7.0 percent
in January.
Against the euro, the krona rose to nearly a 4-month high of
9.1918 from an early low of 9.2361. At yesterday's close, the krona
was trading at 9.2209 against the euro.
If the krona extends its uptrend, it is likely to find
resistance around the area.
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