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Forex pairs in this Article » EUR/SEK
FXstreet.com (Barcelona) - The Swedish krona had a bout of appreciation against the single currency on Friday, after the industrial production in the Scandinavian economy expanded 1.3% on a monthly basis from -1.3% previous, contracting 2.2% in a year to December vs. November's -5.0%. New Orders in the manufacturing sector also contracted 2.8%, albeit bettering the prior -3.2%.

This late improvement in some key indicators in the Nordic economy would add pressure to the Riksbank, ahead of its monetary policy meeting next week, where consensus is quite divided regarding a rate cut.

As of writing, the cross is now losing 0.03% at 8.5908 with the next support at 8.5848 (hourly low Feb.7) ahead of 8.5590 (Lower Bollinger) and then 8.5260 (low Feb.5).
On the upside, a break above 8.6533 (high Feb.1) would lead to 8.7120 (Upper Bollinger) and then 8.7190 (high Jan.21).
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