The Swedish krona strengthened today, rising to the highest level in two and a half years versus the US dollar, after the report showed that Sweden’s economic growth beat forecasts. The Swedish gross domestic product advanced 1.2 percent in the fourth quarter of 2010. The growth was slower than the 2.1 percent growth in the previous quarter, though bigger than the median forecast of 1 percent. Central bank Governor Stefan Ingves suggested yesterday … “Swedish Krona Gains as Economic Growth Exceeds Forecasts”
Month: March 2011
Gold Targeting 1430, 1440
Gold has been the safe haven investment for a Long time, and now nothing is different, the market is targeting new All-time highs! As we can see on the chart below, wave (iii) has found the top around 1418 region in the past week from where prices moved lower, but only into a wave (iv). … “Gold Targeting 1430, 1440”
Inflation Pressure Makes Euro Stronger
The euro advanced on the speculation that the accelerating inflation will make the European Central Bank to raise the interest rates before the Federal Reserve. The Eurozone annual inflation rose to 2.3 percent in January from 2.2 percent in December 2010. The consumer prices remained above the ECB target of 2 percent for the second month. The rising consumer prices spurred the speculation that the inflation pressure will prompt the ECB to increase the rates. Most analysts, though, … “Inflation Pressure Makes Euro Stronger”