Silf/Swedbank Sweden Manufacturing Purchasing Managers Index (45.7) for March was published last week, which turned out to be worse than expected. It has been below 50 points for 7 months already. This can be regarded as the presence of negative trends in the Swedish industry. Note that Sweden Industrial New Orders for February also came out last week. This figure was also worse than expected. This week, on April 13, the Sweden Registered Unemployment labor market indicator for March will be published. On April 14, data on inflation (Sweden Consumer Price Index) also for March will be released. Consumer prices are forecast to rise by 11.7% y/y. This is close to their recent high of +12.7% y/y recorded in December 2022. Recall that the current Sveriges Riksbank rate is much lower than inflation and is 3%. If the expected economic data turns out to be weak, then this may have a negative impact on the dynamics of the Swedish krona. Recall that the next meeting of the Central Bank of Sweden will be held on April 26.
| Indicator | VALUE | Signal |
|---|
| RSI | | Sell |
| MACD | | Sell |
| MA(200) | | Buy |
| Fractals | | Buy |
| Parabolic SAR | | Buy |
| Bollinger Bands | | Sell |
Summary of technical analysis
| Order | Buy |
| Buy stop | Above 10,56 |
| Stop loss | Below 10,18 |