{"id":95591,"date":"2020-02-06T02:26:33","date_gmt":"2020-02-06T07:26:33","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=95591"},"modified":"2020-02-06T02:26:33","modified_gmt":"2020-02-06T07:26:33","slug":"102293-gbp-sek-krona-strikes-3-days-of-gains-amid-improved-services-pmi-in-sweden","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/102293-gbp-sek-krona-strikes-3-days-of-gains-amid-improved-services-pmi-in-sweden\/","title":{"rendered":"GBP\/SEK: Krona Strikes 3 Days of Gains amid Improved Services PMI in Sweden"},"content":{"rendered":"

Sweden\u2019s Krona<\/a> has successfully managed to remain well-supported against the Pound and strikes 3 consecutive days of gains. At the interbank market, on Wednesday the GBP\/SEK exchange rate<\/a> settled down -0.26% at 12.4597, but the pair was seen quoted within a trading range of 12.5207 and 12.4018.<\/p>\n

GBP\/SEK – Improved Services PMI figures in Sweden have driven SEK higher against the Pound<\/h2>\n

Sweden’s Services PMI expanded to 52.5 in January compared to 49.1 in December, which was upwardly revised from 48.7. Sweden\u2019s services sector rebounded to 5-months high, posting the first reading above the 50 mark since August 2019. A reading above the 50 mark suggests expansion in the services sector.<\/p>\n

Meanwhile, the production in the private sector and the industrial orders disappointed the market. Industrial production in Sweden performed worse than expected in December as factory activity contracted by -1.6% compared to a downwardly revised 1.7% in November. At the same time, the annual rate of growth in the private sector declined by -2.4% versus a downwardly revised 0.4%.<\/p>\n

In a separate report, industrial orders in Sweden fell by -4.7% in December compared to a downwardly revised -1.8% in November. This was the lowest reading in 4 months.<\/p>\n

Looking forward on the data front, the Swedish economic calendar is stripped of relevant risk events that can disrupt the market volatility.<\/p>\n

Elsewhere, according to a recent Reuter\u2019s poll, the British Pound<\/a> is expected to appreciate by 4% by year-end. Wall Street investors seem confident that despite the big hurdles ahead the UK and the EU counterparts will be able to strike a trade deal by the year-end.<\/p>\n

Looking over the technical pattern, the GBP to SEK<\/a> pair is bouncing off of the yearly opening price of 12.4256. The bullish backdrop in the SEK has started to fade away once the GBP\/SEK pair tried to fall below the yearly opening price.<\/p>\n

GBP\/SEK<\/a> was down -0.16% to 12.4403 in the late Asian session on Thursday.<\/p>\n

\n
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Sweden\u2019s Krona has successfully managed to remain well-supported against the Pound and strikes 3 consecutive days of gains. At the interbank market, on Wednesday the GBP\/SEK exchange rate settled down -0.26% at 12.4597, but the pair was seen quoted within a trading range of 12.5207 and 12.4018. GBP\/SEK – Improved Services PMI figures in Sweden […]<\/p>\n","protected":false},"author":163946598,"featured_media":47001,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1379,1698],"tags":[2229,1394,1454,1646],"class_list":{"0":"post-95591","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-gbp","8":"category-sek","9":"tag-construction-data","10":"tag-gbp","11":"tag-pmi","12":"tag-sek"},"acf":[],"yoast_head":"\nGBP\/SEK: Krona Strikes 3 Days of Gains amid Improved Services PMI in Sweden - Currency Live<\/title>\n<meta name=\"description\" content=\"Sweden\u2019s Krona has successfully managed to remain well-supported against the Pound and strikes 3 consecutive days of gains.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/102293-gbp-sek-krona-strikes-3-days-of-gains-amid-improved-services-pmi-in-sweden\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ileana Ionescu\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102293-gbp-sek-krona-strikes-3-days-of-gains-amid-improved-services-pmi-in-sweden\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102293-gbp-sek-krona-strikes-3-days-of-gains-amid-improved-services-pmi-in-sweden\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"GBP\\\/SEK: Krona Strikes 3 Days of Gains amid Improved Services PMI in Sweden\",\"datePublished\":\"2020-02-06T07:26:33+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102293-gbp-sek-krona-strikes-3-days-of-gains-amid-improved-services-pmi-in-sweden\\\/\"},\"wordCount\":573,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102293-gbp-sek-krona-strikes-3-days-of-gains-amid-improved-services-pmi-in-sweden\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/sek-plunge-low-against-gbp.jpg\",\"keywords\":[\"construction data\",\"gbp\",\"pmi\",\"sek\"],\"articleSection\":[\"GBP\",\"SEK\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102293-gbp-sek-krona-strikes-3-days-of-gains-amid-improved-services-pmi-in-sweden\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102293-gbp-sek-krona-strikes-3-days-of-gains-amid-improved-services-pmi-in-sweden\\\/\",\"name\":\"GBP\\\/SEK: Krona Strikes 3 Days of Gains amid Improved Services PMI in Sweden - 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