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Cross euro Swedish krona causes traders' interest in stability and low risk. The tool is suitable for beginners.
The cross over the euro to the Swedish krona did not arouse interest among traders for a long time. Most often, it was used to analyze the situation in the Scandinavian part of the EU or as an additional tool, when when the ideal options were already dull.
But in 2016, the situation changed, and a couple began to pay attention more and more often. This is due to the weakening position of the euro and the unstable economy of the EU. In contrast to the storm raging in the eurozone, Sweden looks like a quiet haven where investors can wait out the crisis.
Of course, this provides an inflow of foreign capital and significantly strengthens the exchange rate. Due to the high degree of variability, the crown is attractive for scalping. But this strategy should only be used by experienced traders.
The end of the 90s of the last century was marked by the rapid development of the Swedish economy. The country initially aimed at high-tech production and training of professional personnel, which in the historical perspective very quickly bore fruit.
At the beginning of the 10s of this century, the country has become one of the richest in the world and provides high standards of quality of life, which makes citizens as loyal as possible and eliminates the possibility of political upheavals or crises.
This circumstance is determined by the fact that significant international concerns, including IKEA, Volvo, prefer to work under the jurisdiction of Sweden.
Small and medium-sized businesses also feel pretty good. The government has created all the conditions for these areas to develop and replenish the budget actively.
The Swedish economy is affected by the fact that the country provides itself with cheap electricity from hydropower plants. Developed industries such as pharmacology, logging, paper manufacturing, automotive, computer development.
One of the Swedish IT startups, called Spotify, made a splash in the Internet services market when it offered a cloud-based file transfer service with free music downloads.
Sweden’s rejection of the euro helped the country better survive the crisis of 2008/9 and 2016/19. Sweden was one of the first to face the problems of transition to the capitalist system proposed by the United States. Severe pressure on the economy was felt in the 70-80s of the 20th century.
But the government, together with the national bank, adopted many long-term programs that allowed to resolve the situation and bring the country to world leaders in all macro and microeconomic indicators.
As of 2019, Sweden is among the few countries whose trade balance is positive. In this aspect, the country owes warm relations with China, which is the largest consumer of iron ore produced by the state.
Although Sweden’s economy looks very stable, it is still dependent on the commodity market and the economic activity of large companies. The analysis of the S&P 500 index can help in the matter of forecasting SEK quotes.
The Swedish krona strengthens when the market grows; during a depression or recession, the currency loses value. Growth is progressive, but falls can be rapid, which determines the volatility of the course.
Naturally, pegging to raw materials makes SEK not the most predictable and reliable, but against the backdrop of the euro swaying in the wake of the crisis, the currency does not look helpless. On the contrary, with a competent trading strategy, it can bring the right margin.
Every year, the consumer policy of developed European countries shows its fallacy. Initially, the eurozone was seen as a community of equal states. But in reality, it turned out that eastern Europe became a raw materials appendage for western.
For more than 20 years this has led to the formation of a massive gap between the economies of same Germany and, for example, Slovenia. As a result, super-developed powers are forced to spend resources on pulling neighbors out of financial holes.
All this demonstrates that the euro cannot stabilize soon, and when this happens, no one knows for sure. Against this background, the policy of the Riksbank clearly shows the prospects of the Swedish krona.
The financial institution regularly takes measures so that the national currency does not strengthen too much and does not grow against the euro. This is a consequence of the Maastricht Treaty, which entrusted Sweden with certain financial obligations to the EU.
Given all the above, we can conclude that the pair is equally suitable for both experienced traders and beginners.
For the latter, it will be useful to know that the tool lends itself well to technical analysis, and in 95% of cases, the real trend corresponds to the prompts of indicators.
|AUD/CAD||Course Australian Dollar to Canadian Dollar||3.8||0.91521|
|AUD/CHF||Course Australian Dollar to Swiss Franc||3.7||0.63554|
|AUD/JPY||Course Australian Dollar to Japanese Yen||29.8||70.52|
|AUD/NZD||Course Australian Dollar to New Zealand Dollar||3.2||1.07208|
|AUD/USD||Course Australian Dollar to US Dollar||2.7||0.65442|
|CAD/CHF||Course Canadian dollar to Swiss franc||3.9||0.69428|
|CAD/JPY||Course Canadian dollar to Japanese yen||3||77.023|
|CHF/JPY||Course Swiss Franc to Japanese Yen||4||110.912|
|EUR/AUD||Course Euro to Australian Dollar||3.3||1.66604|
|EUR/CAD||Course Euro to Canadian Dollar||3.4||1.52541|
|EUR/CHF||Course Euro to Swiss Franc||3||1.05928|
|EUR/DKK||Course Euro to Danish Krone||5.2||7.456|
|EUR/GBP||Course Euro to British Pound||2.8||0.89502|
|EUR/JPY||Course Euro to Japanese Yen||3.4||117.507|
|EUR/MXN||Course Euro to Mexican Peso||37||24.7205|
|EUR/NOK||Course Euro to Norwegian Krone||40||10.9054|
|EUR/NZD||Course Euro to New Zealand Dollar||7||1.7867|
|EUR/PLN||Course Euro to Polish Zloty||25||4.51513|
|EUR/RUB||Course Euro to Ruble||73.3||78.1884|
|EUR/SEK||Course Euro to Swedish Krona||37||10.5332|
|EUR/TRY||Course Euro to Turkish Lira||12.5||7.42913|
|EUR/USD||Course Euro to US Dollar||2.5||1.09064|
|EUR/ZAR||Course Euro to South African Rand||5.5||19.1649|
|GBP/AUD||Course British Pound to Australian Dollar||5.9||1.8612|
|GBP/CAD||Course British Pound to Canadian Dollar||6.8||1.70397|