USD/SEK declines on weak US employment data

The SEK strengthened against the USD after the Riksbank's latest monetary policy decision to cut rates to 3.75%. Officials from the Federal Reserve are expressing wary about cutting rates. The USD traded weak on soft Jobless Claims figures. The USD/SEK pair is trading lower, indicating bearish momentum for the pair despite the persistence of inflation and robust US economic performance aiding the Dollar's recovery which fuels hawkish bets on the Federal Reserve .

USD/SEK technical analysis On the daily chart, the Relative Strength Index for the USD/SEK reveals a recent move within the positive territory but it points downwards. In addition, the MACD histogram indicates rising red bars, signifying a bearish momentum. The coexistence of the RSI's positive region and the MACD's red bars demonstrates that even though bullish players dominate the market price-wise, the overall trend may be losing steam, hinting at a potential shift in market momentum.

Coin Coin Latest News, Coin Coin Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

USD/SEK rises after Riksbank's cut and dovish outlookThe USD/SEK pair is trading higher at 10.55, marking a significant gain from a low of 10.45 last week.
Source: FXStreetNews - 🏆 14. / 72 Read more »

USD/SEK rises after weak Swedish dataThe USD/SEK pair is currently trading with mild gains to begin the week.
Source: FXStreetNews - 🏆 14. / 72 Read more »

The Dollar Won, but Might the U.S. Lose Control of the Dollar?Paul Brody is Global Blockchain Leader for EY (Ernst & Young). Under his leadership, EY is established a global presence in the blockchain space with a particular focus on public blockchains, assurance, and business application development in the Ethereum ecosystem.
Source: CoinDesk - 🏆 291. / 63 Read more »