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Stock markets have sunk after signs of weaker growth in the United States, Europe and China. Turmoil in developing countries has further spooked investors. The upheaval has renewed doubts about the Federal Reserve’s next steps. Evidence of healthy U.S. job growth would help soothe those jitters.
Meanwhile, they predict the unemployment rate will remain at 6.7%.
"The economy is either at a turning point or approaching a turning point. Either way, this is a horrible time to be a forecaster," said Bill Watkins, executive director of the Center for Economic Research and Forecasting at California Lutheran University. To top of page
We recommend closing the short EUR/SEK trade that we initiated last week. While Swedish economic data have improved, as we expected, the global outlook has deteriorated – caused by a larger than expected weather effect in the US (the US ISM has fallen to 51.3, from December’s 56.5). As such we close out the trade at 8.8300 (entered at 8.8100) and look to reinitiate once risk appetite turns positive again.