ECB: Soft rhetoric but EUR strengthened

Economic indicators from the US are the most important economic indicators this week Review: The ECB and the BoE delivered as expected Sweden: Shock figures for PMI service put pressure on SEK. We have for quite some time argued that investors as well as analysts were not prepared for possible negative news from Sweden. Yesterday’s shocking news in the form of PMI service (47.2 against the estimate of 54.2) had therefore a strong effect on SEK. We expect further SEK weakening – particularly

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ECB: Soft rhetoric but EUR strengthened

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