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EUR/SEK expected to correct lower – Danske Bank

Valtteri Ahti, Chief Strategist at Danske Bank, noted SEK remains oversold and could spark a correction lower in the cross.

Key Quotes

“In Scandies, we have raised our Swedish inflation forecast, which is now closer to the Riksbank (RB)”.

“As for the April numbers, due for release on Wednesday, we are one tenth below both the RB and consensus on all relevant measures, which could lend some support to EUR/SEK. That said, we now see room for a correction lower given that the cross is overbought relative to rates. We stick to our 3M 10.50 target, though”.

AUD/USD seen sidelined very near term – UOB

FX Strategists at UOB Group noted the Aussie Dollar is expected to trade in a consolidative fashion in the very near term. Key Quotes 24-hour view:
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Chile Trade Balance: $983M (April) vs $792M

Chile Trade Balance: $983M (April) vs $792M
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