NOK to stay under pressure near term – Danske Bank
|Arne Rasmussen, Head of FI Research at Danske Bank, gave his views on the Norwegian Krone.
Key Quotes
“Meanwhile, the NOK has weakened slightly at the beginning of the week despite oil stabilising and with no significant market movers”.
“The rest of the week is likely to bring another set of strong domestic data, starting off with today’s retail sales where we have an above-consensus call (watch out for Easter effects)”.
“Importantly, however, the NOK is not driven by strong domestics at this stage which is also why we are less upbeat on the NOK near-term than most other local houses”.
“We do share the view that the NOK will move higher on a 6 -12M horizon but we do not share the record post-crisis optimism among local economists”.
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.