NOK looks to oil, risk and SEK for direction – Danske Bank

Pablo Piovano FXStreet

Analysts at Danske Bank noted the Norwegian Krone stays vigilant on Brent crude, SEK and the broad risk trends.

Key Quotes

“EUR/NOK rose in late European trading amid Brent crude’s drop below USD 80/bbl”.

“Hence, the low 9.40s again proved a barrier for further NOK strength. Tomorrow will bring SSB’s quarterly business confidence indicator, which will be important for economists, but we doubt it will have much market impact”.

“Instead, the NOK tone will continue to be set from global risk appetite, the oil price and the SEK”.

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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