Currency Charts: USD to SEK

USD/SEK is a very volatile asset. However, it doesn’t make it accessible. The reason is that its quotes are generally duplicated by USD/NOK. Nevertheless, this currency pair can also be used to make money.

Key features

This currency pair shares many features with other Scandinavian currencies. It shows powerful jumps within a day – up to 900 points. It’s entirely predictable on the H1-H4 timeframes.

The currency pair much depends on ore prices due to the fact Sweden turns out to be one of the critical exporters of this commodity. Furthermore, the couple simultaneously duplicates the fluctuations of the Danish and Swedish krona exchange rates. In general, currency pairs with Scandinavian currencies demonstrate the same moves.

USD/SEK — редкая пара с прямым курсом. Базовой валютой выступает доллар США, а котируемой — шведская крона. Пара характеризуется небольшим объемом торгов, поэтому уровень спреда по ней выше, чем у более популярных финансовых инструментов.

This exotic currency comes with a direct exchange rate. In this pair, the greenback serves as the base currency, and the Swedish krone is quoted. A moderate trading volume gives a reasonably high spread.

You’d better trade this pair in the European trading session, although trading this asset in the American session is possible too. Monday never brings wild bounces, but the pair become more active on Tuesday. Due to its chaotic moves, it’s hard to make forecasts within a day.

Trading Principles

80% – that’s the portion of services and trade in the American GDP. The industrial sector occupies 19.2%. Agriculture has just 1.5%. In America, domestic and international tourism is vital.

America sells and buys enormous volumes of various products overseas. Key American trade partners are Canada and Mexico. All these three countries have signed NAFTA, a trade pact. Other important trade partners include China and the European Union.

The Swedish economy has been actively developing since the end of World War II. Currently, it boasts the status of one of the most developed economies around the globe. In the mixed structure of its economy, a significant portion is occupied by the large-scale public industry.

Trade and services form Sweden’s GDP by about 69%. As for the industry, it holds approximately 29%. The country’s agriculture demonstrates no more 2% in the overall GDP scene. It’s an export-oriented economy in general.

Sweden’s high-tech industries have been developing since the 1960s when the first electronics companies showed up. The engineering sector is well designed too. Among the most famous Swedish exports, we can mention telecommunication equipment, appliances, raw materials.

EU members are among Sweden’s major trade partners. Most of the Swedish exports go to Denmark, Norway, and Finland.

Commodity markets greatly influence this currency pair. If you are eager to trade this currency pair profitably, you need to carefully watch the trade balance, unemployment, interest rates of Sweden and the United States. To determine the optimal entry and exit points to the market, use technical analysis. Avoid risking over 10% of your trading deposit.

 

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