EUR/NOK: Krone will be less weak towards year-end than during the summer – Nordea
|Economists at Nordea expect EUR/NOK to trade around 12.30 during the summer, with more NOK weakening likely.
More pain for NOK ahead
We believe the NOK roller coaster ride will continue during the summer and see EUR/NOK trading around 12.30 during the summer. However, higher moves cannot be excluded.
We believe that NOK will be less weak towards year-end than during the summer. One reason for our view is that gas prices are likely to rise during the winter, implying higher NOK purchases from oil companies.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.