The USD/SEK currency pair bounced from a one-week low of 9.1500 on Wednesday, as investors braced for the release of essential US job market data, which may provide fresh clues on the health of the economy and the Fed’s monetary policy path.
US private payrolls probably rose by 45,000 in December, according to market consensus, after businesses slashed 32,000 jobs in November.
And, job openings in the US probably decreased to 7.64 million in November from 7.67 million in October.
Fed Governor Stephen Miran said on Tuesday that aggressive policy easing was required to keep the economy moving forward.
FOMC policy makers had signaled just one 25 bps rate cut for 2026, while investors continue to expect two or three rate cuts of 25 basis points each.
In the meantime, in Sweden, services sector growth has slowed in December, the latest PMI data showed.
The Services PMI came in at a reading of 56.7 in December, down from a revised up 59.2 in November – the highest level since June 2022. Still, the PMI has remained above its historical average of 55.6 for the fourth straight month.
SEK traders are now expecting the preliminary CPI inflation report due on Thursday for more clues over Riksbank’s policy path.
Sweden’s central bank left its key policy rate intact at 1.75% at its December meeting, while policy makers again indicated that borrowing costs would likely remain at this level for some time.
The Riksbank also noted that economic prospects had improved, while inflation was approaching the 2% target.
Sweden’s annual inflation probably accelerated to 0.5% in December, according to market estimates, from 0.3% in November.
The USD/SEK currency pair was last up 0.06% on the day to trade at 9.1880.
TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover 
