Softer U.S. Data Would Likely Boost Swedish Krona, Canadian Dollar
Dow Jones
Aug 11
1444 GMT - The Swedish krona and Canadian dollar could receive a boost if upcoming U.S. economic data miss forecasts, TD Securities strategists say in a note. If Wednesday's inflation data come in lower than expected and Friday's retail sales figures are weak, the krona and Canadian dollar have the most scope to rally against the U.S. dollar, they say. This is due to cheap valuation, improving domestic demand and continuing short positions on the two currencies, they say. The U.S. dollar trades flat at 1.3938 Canadian dollars and rises 0.1% to 9.4953 kronor.
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