On Friday the Swedish krona continued its miserable path to the end of the week. After losing significant ground on Thursday following an interest rate cut that was more aggressive than analysts had predicted, industrial production figures released on Friday came out below forecast. The figures put further pressure on the Scandinavian currency, which dropped almost 3% in two days against some counterparts.
Looking forward to this week, it looks to be an interesting few days for the Canadian dollar, with building permit and economic health figures released later today, as well as employment data on Friday. Business confidence and employment figures out of Australia will also be worth keeping an eye on, and mid-week trade balance and inflation data out of China could well be influential. Any surprises could cause significant movements in the relevant currencies.
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