Forex Today: Swedish Central Bank Set to Hike Rates in April

The Governor of Sweden’s central bank said in a speech yesterday there would likely be another rate hike in April from the current 3% due to inflation remaining high.


  1. The Governor of Sweden’s Riksbank gave a speech yesterday in which he stated that the central bank will probably have to raise its interest rate from the existing 3% as Swedish inflation remained stubbornly high at 9.4%, well above the bank’s 2% target.
  2. Global markets have begun the week quietly and mixed, although futures in the S&P 500 Index and the NASDAQ 100 Index are both currently trading higher than their respective closes on Friday. It is likely to be a quiet Monday as there are no major data releases scheduled today.
  3. The price of Bitcoin still looks quite bullish, as it continues to hold up above the key support level at $27,458 has held so far.
  4. Russian President Vladimir Putin announced over the weekend that Russia will station tactical nuclear weapons in Belarus, causing some fear as he has previously threatened to use such weapons in Ukraine. However, this appears to have had little impact upon markets.
  5. The failed Silicon Valley Bank has been purchased by First Citizens Bank for $500 Million.
  6. The Governor of the Bank of England will be giving a minor speech at the London School of Economics this evening. There is a small chance this could cause some volatility in the British Pound.
Adam Lemon

Adam Lemon began his role at DailyForex in 2013 when he was brought in as an in-house Chief Analyst. Adam trades Forex, stocks and other instruments in his own account. Adam believes that it is very possible for retail traders/investors to secure a positive return over time provided they limit their risks, follow trends, and persevere through short-term losing streaks – provided only reputable brokerages are used. He has previously worked within financial markets over a 12-year period, including 6 years with Merrill Lynch.