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FxWirePro: EUR/SEK slumps to 9.49 on positive Swedish July CPI data

  • Swedish July Core CPI surprised on the topside today, taking pressure off the Riksbank for further QE and rate cuts 
  • July core CPI prices up 0.9% y/y vs 0.6% previous, beating market expectations at 0.6% and Riksbank forecasts at 0.7%
  • EUR/SEK plunged to 9.49 on data surprise, from 9.5720 and is currently slipping further to 9.4810 
  • EUR/SEK bull run damaged, prices could target 9.4540 38.2% fibo of 9.17-9.6295 rise
  • Market Data
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