Sweden will be publishing its second-quarter GDP report today

The pair will fail to break out from a downtrend channel resistance line, sending the pair lower in the following days. Sweden will be publishing its second-quarter GDP report today, August 28. Expectations for the April to June report is an economic decline of 8.6%. The country’s herd immunity program was meant to prevent its economy from collapsing. However, recent reports suggest that the country suffered the same fate as its neighbors. However, the Swedish koruna will thrive against the US dollar as the largest economy in the world suffered a worse economic contraction. Furthermore, Sweden’s report from yesterday gave hope among investors that Sweden is on the path of recovery. Consumer and manufacturing confidence posted 84.4 and 97.7 results for the month of July compared to prior numbers of 83.3 and 95.7 points, respectively. Its retail sales also grew 1.9% last month, higher than 1.0% expectations, and 1.3% prior result.