EUR/NOK-Commentary

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September 10, 2024

NOK flows: NOK resilient after slightly softer CPI
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September 10, 2024 6:27 AM UTC

NOK dips slightly on CPI but reocvers quickly and remains too weak relative to yield spreads

August 22, 2024

USD, EUR, JPY, AUD, NOK flows: Risk positive tone remains post FOMC
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August 22, 2024 6:42 AM UTC

USD remains under general pressure but AUD may be the best performer while tone remains risk positive

August 12, 2024

EUR, JPY, GBP, NOK flows: Mildly more risk positive tone
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August 12, 2024 6:30 AM UTC

Asia trading sees modest gains in the riskier currencies with safe havens edging lower

August 09, 2024

NOK, AUD flows: NOK little changed after CPI, AUD firm
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August 9, 2024 6:27 AM UTC

NOK reverses initial post-CPI gain, but has upside scope. AUD firmer in better risk environment overnight, gains can extend

August 06, 2024

USD, JPY, NOK, AUD flows: Mild risk recovery continues
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August 6, 2024 7:07 AM UTC

The risk reocvery ocntinued overnigth and the JPY has fallen back, but remains undervalued. CHF still has more downside scope, and high yielders could recover further

August 05, 2024

USD, JPY, CHF, NOK flows: Mild risk recovery on ISM
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August 5, 2024 2:29 PM UTC

A better than expected ISM services index has helped to stabilise equities and risk sentiment in general, but FX markets still show extreme valuations

USD, JPY, CHF, AUD, NOK flows: Safe havens surge, risk currencies plunge
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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,

July 25, 2024

USD, JPY, CHF, NOK flows: Risk recovers on stronger US GDP data
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July 25, 2024 1:02 PM UTC

USD rises against JPY and CHF as US Q2 GDP comes in above expectations

JPY, AUD, NOK flows: JPY strength continues, risk currencies pressured, NOK good value
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July 25, 2024 6:59 AM UTC

JPY strength has continued as risk positions have been unwound with the AUD suffering in particular. EUR/NOK is testing its highs in Europe but NOK represents good value longer term

July 10, 2024

NOK flows: NOK softer after weaker CPI
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July 10, 2024 6:45 AM UTC

Expectations of Norges Bank easing increase after weaker June CPI, but NOK still look cheap

June 20, 2024

NOK flows: NOK firmer after Norges Bank meeting
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June 20, 2024 9:13 AM UTC

Norges Bank projecting slightly higher short term rate profile supports NOK

June 05, 2024

JPY, CHF, NOK flows: Some reversal of Tuesday's risk off moves
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June 5, 2024 7:00 AM UTC

JPY falls back ahea dof US data but still has potential for bigger picture gains. Scope for some general reversal of Tuesday's risk off trades

May 16, 2024

USD flows: USD continues recovery after data
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May 16, 2024 12:59 PM UTC

The USD has extended gains after the claims and Philly Fed, but upside looks quite limited

USD, JPY, EUR, NOK flows: NOK and JPY remain attractive
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May 16, 2024 6:33 AM UTC

The dip in the NOK after this morning's GDP data looks like a buying opportunity. JPY strength has further to go.

May 10, 2024

NOK flows: NOK edges higher after CPI
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May 10, 2024 6:53 AM UTC

Norway CPI mildly stronger than expected, suggesting scope for NOK gains

May 03, 2024

NOK flows: NOK higher after Norges Bank
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May 3, 2024 8:16 AM UTC

Norges Bank  statement a little more hawkish than expected - NOK edges up

April 10, 2024

USD, NOK, NZD, JPY flows: NOK softer, NZD firmer, focus on JPY and US CPI
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April 10, 2024 6:48 AM UTC

NOK softer as CPI comes in weaker than expected. NZD firmer after RBNZ. USD/JPY still hovering close to 34 year highs ahead of US CPI data

April 03, 2024

CHF, NOK flows: CHF weak, NOK strong as value makes a comeback
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April 3, 2024 6:58 AM UTC

CHF/NOK sees big decline as value starts to become a factor

March 21, 2024

EUR, NOK flows: NOK slightly firmer after Norges Bank, EUR PMIs mixed
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March 21, 2024 9:50 AM UTC

Stronger composite but weaker manufacturing PMIs leave the EUR little chnaged. NOK slightly firmer as Norges Bank resists pressure for faster easing

February 09, 2024

NOK, SEK flows: NOK edges higher after CPI
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February 9, 2024 7:31 AM UTC

EUR/NOK moves modestly lower after stronger than expected December CPI, but NOK/SEK has clearest scope for gains

January 29, 2024

SEK, NOK flows: EUR/SEK steady after GDP, NOK/SEK upside risks
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January 29, 2024 7:53 AM UTC

EUR/SEK fairly steady after Q4 Swedish GDP data shows Sweden edging out of recession

January 10, 2024

NOK, SEK flows: Little changed after data
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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

EUR/NOK, EUR/CHF, CHF/JPY flows: NOK up on Norges Bank hike, CHF vulnerable vs JPY
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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

EUR/NOK, EUR/USD flows: NOK little changed after softer CPI
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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