GDP q/q (SEK) comes in at 1.4% against 0.3% consensus

Sweden’s Gross Domestic Product for the second quarter came in at 1.4% quarter over quarter. This figure significantly exceeded the consensus expectation of 0.3%. The previous quarter’s reading was -0.2%. The actual print represented a 366.7% surprise relative to the consensus forecast.

The USDSEK pair moved -20 pips five minutes after the release. Fifteen minutes post-release, the pair was trading +30 pips from its pre-announcement level. For context, the median one hour move for USDSEK after past GDP releases has been 108 pips. The observed moves so far are smaller than this historical median. Direction reliability statistics are not yet available for this release.