EUR/SEK Forex Trading
EUR/SEK Forex Trading
EUR/SEK Live Charts
Use our EUR to SEK live charts to get the most up-to-date insight into the recent performance of this pair and other currency pairs used in forex trading. It can help you make informed decisions at home or on the go – no matter if you use the TickTrader desktop platform, web terminal, or mobile app. Our real-time chart includes the very latest price, historical data, and technical analysis tools to help forecast the EUR/SEK FX rate.
What Is EUR/SEK Trading?
EUR/SEK is a currency pair that represents the exchange rate between the euro and the Swedish krona. For example, if the rate is 10, it means that 10 Swedish krona are needed to purchase one euro.
EUR/SEK is considered a minor currency pair, but it still attracts attention from traders and investors who have an interest in the Swedish economy or seek diversification opportunities. At FXOpen, traders can take advantage of high-speed trade execution and favourable trading conditions, including spreads from 0 pips, low commissions, instant trade execution, and more than 600 markets.
EUR/SEK Historical Performance
In the early years, after the launch of the euro in 1999, the EUR/SEK exchange rate was relatively stable, with the euro trading at around 9-9.50 Swedish krona.
The global financial crisis of 2008 and the subsequent economic downturn impacted the pair’s value. By March 2009, the price skyrocketed above 11.50. However, the krona soon recovered, and the price fell below 8.50 in the summer of 2012. One of the reasons was the European debt crisis, which started in 2010. Concerns over the stability of the Eurozone and potential contagion effects affected the rate.
Following the debt crisis, the Eurozone started to show signs of economic recovery. The European Central Bank (ECB) implemented various monetary policies to stimulate growth. As the euro strengthened, the pair formed a long-term uptrend so that in May 2023, it managed to reach the highs of 2009.
EUR/SEK is one of the more commonly traded pairs as it demonstrates significant price swings, providing numerous trading opportunities.
Major Factors That Affect the EUR/SEK Pair
Monetary policies are another essential factor that can impact the euro/ Swedish krona pairing. The stance of monetary policies conducted by the European Central Bank (ECB) and the Swedish Riksbank determine the strength of the currencies, including interest rate differentials between the Eurozone and Sweden. Therefore, traders closely track the central banks’ statements.
Although there are not many geopolitical tensions in the Eurozone or Sweden, political developments, trade disputes, and economic crises may have an impact on the euro/Swedish krona. As it’s a minor currency pair, market sentiment plays a vital role in determining its value.
Are you interested in this pair? You can start trading it with FXOpen right away!