Danske Bank's research team has kept its EUR/SEK outlook unchanged, with the currency pair currently trading comfortably around 10.80 [1]. The bank projects EUR/SEK to reach 11.00 over a 6–12 month horizon, reflecting expectations of a relatively stable Swedish Krona (SEK) and no major reassessment of underlying fundamentals [1].
Commentary from the Riksbank's Per Jansson highlights that a food VAT cut is exerting downward pressure on inflation in Sweden, while higher energy costs are pushing inflation up. Jansson noted that this supply shock can largely be looked through, though vigilance remains warranted. He emphasized that the current situation differs from 2022, as inflationary pressures are now lower, demand is weaker, and the SEK is stronger [1].
Danske Bank also maintains its forecast for EUR/NOK, expressing skepticism about the longevity of the recent rally and keeping an upward slope in its 6- and 12-month projections. As a result, NOK/SEK is back above 0.98, and EUR/DKK remains close to the 7.4732 level [1].
No significant market reactions or analyst opinions suggesting a change in sentiment were mentioned in the article.
CONCLUSION
Danske Bank's unchanged forecast for EUR/SEK signals expectations of a stable Swedish Krona in the coming months. The bank's outlook is supported by current inflation dynamics and a lack of major shifts in fundamentals. Market impact appears limited, with no immediate reactions or changes in sentiment reported.