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SWEDISH KRONA / EURO

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SEKEUR trade ideas

The disappointing results from the EU member statesThe pair will continue to move lower in the following days towards a major support line. Investors of the single currency were whipsawed following the disappointing results from the EU member states which ended the EUR/SEK rally. A month after the coronavirus became pandemic, analysts gave an outlook to economies who suffered from the “Global Lockdown”. The outlook for Germany was a decline of 4.2% for fiscal 2020. Meanwhile, a recovery is expected in 2021 wherein the EU’s largest economy is expected to expand by 5.8%. However, six (6) months after these projections, analysts have now revised their initial forecast and downgraded Germany’s recovery. The economic contraction for 2020 is now expected to reach -5.4%. Meanwhile, recovery by 2021 was slower at 4.7%. This means that it will take another year for Germany to recover from the financial turmoil brought by COVID-19.
Short
by Financebroker
The admission of international students in SwedenThe pair will reverse back towards a strong support line after it failed to break out from an uptrend resistance line. The admission of international students in Sweden was up by 13.0% despite the ongoing coronavirus pandemic. The 2018-2019 batch has contributed around $122 million in the Swedish economy. The government said the increase in the number of admitted international students for 2020-2021 could further increase this figure. This, in turn, will help the Swedish economy to recover faster from the pandemic. Meanwhile, recent figures from Germany showed continuous concerns by investors over the near-term recovery of the EU’s largest economy. Unemployment was still high and employment change for September was negative 8K. Also, retail sales YoY confirmed a downtrend pattern in the report. This suggests that Germany is yet to fully recover from the economic effect of the coronavirus pandemic.
Short
by Financebroker