USDSEK

(Last Updated April 15, 2021)

Welcome to the news page for USDSEK (USDSEK). Below you’ll find our daily market updates. Here’s a technical and fundamental summary of where things currently stand:

Forex Calendar for USDSEK

metric_name reference_period asset_name asset_id date time forecast outcome
United States Philadelphia Fed Manufacturing Index Apr 2021 US Dollar USD 2021-04-15 12:30 GMT 42 50.2
United States NY Empire State Manufacturing Index Apr 2021 US Dollar USD 2021-04-15 12:30 GMT 19.5 26.3
United States Retail Sales MoM Mar 2021 US Dollar USD 2021-04-15 12:30 GMT 5.9% 9.8%
United States Retail Sales Ex Autos MoM Mar 2021 US Dollar USD 2021-04-15 12:30 GMT 5% 8.4%
United States Continuing Jobless Claims 03/Apr 2021 US Dollar USD 2021-04-15 12:30 GMT 3700K 3731K

The Trend

A trend/countertrend situation exists on USDSEK, in which a downtrend exists on shorter timeframes but an uptrend appears on the 90 and 30 day timeframes. As such, traders with short positions should be aware of the uptrend in place on the longer timeframes.

USDSEK Moving Averages

USDSEK’s moving averages tell a multi-facted story about its trend. The 20 and 50 day averages suggest a bullish trend, as they are pointing upwards, in contrast to the downward-facing 100 and 200 day averages that imply a bearish trend. This implies that the long-term trend — meaning going back over 3 months — is bearish, while the trend over the past month and a half is bullish.

The chart below illustrates.

In terms of correlations over the past week for USDSEK, it has been most correlated with EURGBP. If we zoom out to a two week basis, though, GBPNZD is the asset most correlated to USDSEK. On the flip side, the asset least correlated with USDSEK over the past week has been EURNOK, but if we observe the prior two weeks, USDHKD has been the asset least correlated with USDSEK. The chart below illustrates USDSEK against its least correlated assets.

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The View From the Weekly Timeframe

Currently, USDSEK’s rate is down -698 pips (-0.82%) from the week prior. Moreover, note that the weekly chart shows that USDSEK has seen 2 straight down weeks. Regarding the trend, note that the strongest trend exists on the 20 week timeframe. Looking further out, the moving averages on the weekly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. USDSEK’s weekly price action over the past 52 weeks can be seen via the chart below.

USDSEK: The Monthly View

Clearest trend on the monthly is apparent at the 120 month timeframe.

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