📊Macroeconomic Sentiment Could Keep NOK/SEK Pressured: Cable FX Macro

**As seen in Macro Walk report 11/10/23, subscribe at cablefxm.co.uk/reports 

• The economic surprise section in our Macro Walk report is showing a continued divergence in Scandies data sentiment

• The NOK Citi Economic Surprise Index is tracking the largest drop in the G10 over the last 20-days, while the SEK is showing the largest increase in the group over this period

• The graph below plots a differential of macro sentiment and the NOK/SEK rate

• While the absolute spread in the CESIs has narrowed over recent days, a continuation of SEK macroeconomic strength could see the exchange rate test YTD lows