Minimum spread- 4
Typical spread- 29
Minimum nominal trade size- 1000
Overnight interest (annual) sell- -1.90%
Overnight interest (annual) buy- 0.40%
Trading hours (GMT) – 24*5
USD/SEK is the ticker that represents the strength of the Swedish Krona against the U.S dollars. The pair is not common in the Forex market and belongs to an exotic group of currency. The currency ratio shows how many Swedish Krona are needed to buy one us dollar.
In this pair, the US dollar is the base currency in relation to the Swedish Krona.
The US dollar is denoted by the symbol “$,” while the Swedish krona is denoted by the symbol “Kr.” The letter designation in the Forex market for Us dollar and Swedish krona is USD and SEK, respectively.
The US dollar also acts as a kind of indicator of the US economy as it is the official currency of the United States. It is the most used currency in international transactions, and it also acts as primary reserve currency while the Swedish krona is the official currency of Sweden. The currency is issued and regulated by the Riksbank in denominations of 1, 5, 10, 50,100 and 1,000 krona.
Understanding the USD/SEK price
The rule to read the price quote is similar to any other pair. In USD/SEK, the dollar represents the base currency in relation to the Swedish Krona. Thus, when the USD/SEK rally, that means the U.S dollar is gaining strength over the Swedish Krona, and the dollar loses its strength when USD/SEK falls. The price quote of USD/SEK means the amount of Swedish Krona, which is equivalent to one dollar. For example, when USD/SEK quotes 9.40 prices, it means one dollar is equivalent to 9.40 Swedish Krona.
Key Factors to keep in mind while trading USD/SEK
Monetary Policy Impact
In the case of the American dollar, the most important body is the Federal Reserve, which often followed by traders to anticipate the price movement. The Fed is an independent supervisory federal agency that includes 12 reserve banks in different states, which in turn have thousands of commercial banks. The Fed revises the Federal funds rate eight times a year.
In the case of Swedish Krona, the currency is mostly affected by the affairs of the European Union. Such as news related to the Brexit deal, the election in a nation, which constitutes a bigger economy in the European Union.
The economic calendar offers a significant amount of information. Some of the most important data are:
- CPI-consumer Price Index
- GDP– gross domestic product
- PMI– purchasing managers index
- Trade balance
Why trade in USD/SEK with CAPITAL STREET
- BROAD RANGE OF MARKETS- Access to the popular Forex markets, including major, minor and exotic pairs
- CSFX offers you our state of the art platforms and range of trading tools
- Trade using Margin- Get greater exposure to the marketplace with a small deposit and spread your capital using margin.
- Automate your trade facilities and direct access to the market
- Safety of funds