SWEDEN: Q3 GDP "Surprisingly" Meets Flash Estimates
*SWEDEN 3Q GDP RISES 1.1% Q/Q; EST. +1.1%
Swedish Q3 GDP confirmed flash estimates - somewhat of an impressive feat given the volatile and revision prone nature of the flash. Consensus had a large negative skew, with estimates ranging from 0.6-1.1%.
This leaves GDP well above the Riksbank's 0.5% September MPR forecast. Note that Q2 was also revised up to 0.8% Q/Q
No meaningful Riksbank policy changes expected in the near-term, with the policy rate likely to be at 1.75% for "some time to come". However, recent positive activity signals suggest the risks of a hike back to 2.00% are greater than the risk of another cut over the next 6-12months.
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
EUROSTOXX50 TECHS: (Z5) Trend Needle Points North
- RES 4: 5800.00 Round number resistance
- RES 3: 5777.41 1.382 proj of the Aug 1 - 22 - Sep 2 price swing
- RES 2: 5727.18 1.236 proj of the Aug 1 - 22 - Sep 2 price swing
- RES 1: 5721.00 High Oct 27
- PRICE: 5705.00 @ 06:47 GMT Oct 29
- SUP 1: 5633.28 20-day EMA
- SUP 2: 5545.76 50-day EMA
- SUP 3: 5423.00 Low Sep 25
- SUP 4: 5366.00 Low Sep 17
The trend structure in Eurostoxx 50 futures is unchanged and remains bullish. Monday’s fresh cycle high reinforces a bull theme and maintains the rising price sequence of higher highs and higher lows. Note too that moving average studies are in a bull-mode position, highlighting a dominant medium-term uptrend. Sights are on 5727.18, a Fibonacci projection. First support lies at 5633.28, the 20-day EMA.
MNI: SWEDEN FINAL Q3 GDP +2.4% Y/Y
- MNI: SWEDEN FINAL Q3 GDP +2.4% Y/Y
MNI: MNI CHINA MONEY MKT INDEX OCT LQDTY OUTLOOK 49.0 VS SEP 46.9
- MNI CHINA MONEY MKT INDEX OCT LQDTY OUTLOOK 49.0 VS SEP 46.9
- MNI CHINA MMI OCT CURRENT LQDTY CONDITIONS 27.6 VS SEP 41.8
- MNI CHINA MMI ECONOMIC CONDITIONS OCT 30.6 VS SEP 40.8
