EUR/NOK-Commentary
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August 5, 2024 6:54 AM UTC
The big risk unwind continued overnight, and safe haven currencies surged once again, with the JPY and CHF the best performers, while the commodity currencies suffered. From here much will depend on the US equity market peformance this afternoon. From a value perspective, JPY strength is justified,
January 10, 2024 7:31 AM UTC
Lots of Scandi data this morning. The Norwegian CPI numbers were slightly on the soft side of expectations, but Q4 core CPI is only marginally below the Norges Bank forecast of 5.8% published in the December Monetary Policy Report. Norges Bank in that report also indicated that they were likely to k
December 14, 2023 9:14 AM UTC
Norges Bank has surprised with a 25bp rate hike to 4.5%. The market consensus was for rates to be left unchanged at 4.25%, but it was a close call, with around 40% of forecasters calling for a hike. EUR/NOK lost around 1% on the news, but was already significantly lower from yesterday, having fallen
December 11, 2023 7:48 AM UTC
Norwegian CPI data this morning is the only G10 data of note today, and has come in on the soft side of expectations. The chances of a rate hike at the Norges Bank meeting this week were already low, but they are even lower after this data. EUR/NOK is only modestly higher, as there is not much chang