As expected.
Swedish crown rises vs euro in wake of move. Guess selling of EUR/SEK will be weighing on EUR/USD which is down at 1.2785. EUR/SEK cross down around 9.3100 from 9.3321 just prior to rate increase announcement.
42 Responses to “Swedish central bank raises key repo rate to 0.75% from 0.50%”
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AUTOREFRESH 
Furthermore, the Riksbank now expect GDP-growth to 4.1% in 2010, instead of 3.8% (July). The budget deficit for 2010 is expected to be zero (last year it was -0.5% of GDP). National debt to GDP is about 39%…
The SEKUSD rate is a joke in my opinion…
What Sweden did in the 90s is exactly what the US should do right now, i.e. slash public spending etc. etc. The only problem is that they are doing exactly the opposite.
http://www.bloomberg.com/news/2010-09-02/sweden-increases-benchmark-interest-rate-to-0-75-as-recovery-gathers-pace.html
http://www.newsweek.com/2010/08/15/interactive-infographic-of-the-worlds-best-countries.html
If things continue like this Sweden will move into first place (from no. 3) and the U.S. will likely surely drop (from no. 11), particularly when it comes to economic dynamism…
It is also worth to note how many European countries there are in the top 10.
I’d hazard a wild guess that you’re Swedish Johan
And you just can’t knock a country that gave the World Abba!!!
Darn Gerry I was just checking postings before some sleep, and you made me laugh so hard I’m not going to be able to sleep now!!!!!
VOLVO.
Sorry
Hehe, that’s right Gerry, I am.
Yeah, ABBA is “economic dynamism” for ya! (370M sold albums – or about 40 times the Swedish population)
The bank of ABBA is moving eur right now!
Hart: Volvo was owned by Ford (and was thus “american” for a long time). I guess they couldn’t handle the level of competence required for owning a car manufacturer, so now it has been sold to Geely (China) instead. Let’s see if they can do any better…
Yer, they sure were successful.
i.e. they didn’t have the level of competence…
Buy the way Ford took that company and moved it out of the stone age! Your ignorance is really starting to show Johan. The brand wasn’t worth the investment, for Ford. But then again in your mind The Central Bank of ABBA moves the financialworld! HAHA!!
Hardly Hart, I think you read more into than what I am actually saying. Or am I missing something here, what kind ignorance are you talking about? Nevertheless, my opinion is that Ford didn’t do very well and Geely will probably really open up the huge Chinese car market for Volvo.
I furthermore haven’t said that that the Riksbank moves the financial world (or the Central Bank of Abba, as you call them) but nevertheless, if you look at the fundamentals, the SEK is likely undervalued against the USD at the current rate (in my opinion).
But if you happily ignore a trading opportunity solely based on economic size (if I understood you correctly) (however, after all, the SEK is at least a G10 currency), in my opinion, it is actually you who are the one that is ignorant.
Furthermore, a brand isn’t everything when it comes to cars Hart; it also important to look at the actual car itself and how you develop new models.
I have no doubt that the purchase of Volvo was viewed as a purchase of a brand, but in the end, to really succeed you also have to build good cars.
Johan have a nice trade. I’m sure your right up there on the order list for a new Geevo.All the profits from your sek/usd longs should afford a well optioned model for you.
And, finally, isn’t it the ultimate level of ignorance to only refer to ABBA and Volvo when discussing economic topics…?
To you, it seems, Sweden = ABBA & Volvo. Please correct me if I’m wrong.
Well, you too… However, I prefer German and Italian cars so no Volvo for me…
Blimey I was only trying to add a little humour. OK guess I’m ignorant as well as all the other things……..Sheesh
So now I’m an ignorant, bullshitting liar. Gets better by the day. I’ll soon be off to greener pastures methinks.
See ya manana Gerry ! Gotta work the charts for a sek/usd long here. Cheers!
Gerry, of course I got the humour from you.
My posts were not aimed at you at all. However, I got slightly offended by this post from Hart (when he started to talk about my ignorance, the central bank of ABBA etc.), which in my mind was more bullying than humour:
“Buy the way Ford took that company and moved it out of the stone age! Your ignorance is really starting to show Johan. The brand wasn’t worth the investment, for Ford. But then again in your mind The Central Bank of ABBA moves the financialworld! HAHA!!”
OK, happy trading.
I was just teasing Johan.
It’s my warped sense of humuor. But I am still pouting about a nasty email I got yesterday. I only wish the person could come say things to my face. Sadly that’s never going to happen.
Johan,
Common, I like your german car thing by the way. Volvos have no good look. Ain’t it true?
Sue comes here to escape the childish crap on Forex Factory forums. Let’s try to be adults here, eh?
Considering the great work you guys are doing, you should trow it in the trash can and happily ignore it ever after!!
Less intelligent people will always remain less intelligent, just as nature intended. There is consequently not MUCH one can change about that, although obviously there are one or two things one CAN do…
I’ll try from now on Sue (after this post), and Aziz; it is as true as it can be in the Boolean sense. The Volvo look is truly boring, but the real magic when it comes to German cars vs. Volvo is the motor, in my opinion. German engineers are the real deal…
It’s funny. My sister runs a little boutique hotel in India. It gets rave reviews, really excellent ones. Then very very ocassionally she’ll get a stinker and it’ll do a number on her. Takes it really personally. I have some of that in me I guess. Yes, luckily there are things we can do and if it continues I’ll make sure they get done. At least the sun’s shinning here today, which is the main thing. , .
oh yeah, volvos look ugly
Indeed!
x2
Tank or no tank, I only have good things to say about Volvos.
Mind you, last one I had was a 760 V summat estate
Mornin Gerrry – gosh it’s still gorgeous and sunny!
johan, for gerry and the rest of the crew, you need to overlook that. They are very nice people. There are also some really nice people around here. Why much ado about nothing. Cheers,
this is not supposed to be a venue to vent one’s anger or show off. God bless you people. fx is real nerve racking. learn to manage it.
Don’t forget IKEA!
When does school start again?
… grass grows …
Hey you guys, there are thousands of other places on the web where you can exchange insults all day. Please don’t use this site for it. Most people come here for serious news, some insight, perhaps exchange of ideas related to the markets. Lets keep it to that!!
Pandu is right…. Go on to other sites for all these BS.
Sorry bout that. Had to step away to take phone call past 45 mins or so. Anyways please try and get along. Thank you.
Pandu I’m looking at a long EUR/USD demo trade at 1.2820. With target at 1.2873 (short term fibo level). Stop at 1.2800 (psych level and the 50 dma). You have any open trades or immediate trading plans?
Pandu my demo trade was stopped out. Would reload for 9:45 am and go long EUR/USD ahead of much worse than expected US “pending home sales.”