USDSEK is the symbol for the pair, which reflects the ratio of the US dollar to the Swedish krona. This trading instrument belongs to the category of exotic currency pairs. The US national currency/the Swedish krona exchange rate chart is similar to the movement of the US dollar / Norwegian krone pair. Both trading assets are characterized by rapid and sharp intraday movements. Thus, the main features of the USDSEK pair are high volatility, which on average reaches more than 500 points, and unpredictability, which is most typical for the H1 to H4 periods. The pair consists of national currencies of countries whose economies are significantly different. A leading role in the structure of the US economy is played by the services sector and international trade, followed by the production sector. Sweden's economy is primarily export-oriented. The country supplies raw materials (timber, iron ore, derived products) and cars. The main factors influencing the USD / SEK quotes are prices of iron ore and timber and the cost of oil in the global commodity market. The macroeconomic indicators of both countries (trade balances, labor market data, inflation indicators, and GDP) and the political situation in the European Union and the United States are important, too. One can successfully trade USD/SEK and earn a high profit while adopting short and medium-term strategies.
The USD/SEK quotes are provided below.
Risk warning: Trading in FX and CFDs entails high risk of losing capital.
