9:33 AM · 24 November 2022

BREAKING: EURSEK little changed as Riksbank meets expectations

Riksbank announced its monetary policy decision today at 8:30 am GMT. The Swedish central bank was expected to deliver a 75 basis point rate hike, to 2.50%. Those expectations were met with Riksbank deciding on the second 75 bp increment in a row. EURSEK dipped below 50% retracement in a knee-jerk move but has quickly recovered and is now trading little changed compared to pre-announcement levels. As such, trading range marked with a 38.2% retracement at the topside and a 50% retracement at the downside was upheld.

Source: xStation5

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