NOK: Norges Bank delivers no surprises – Commerzbank

FXStreet Insights Team FXStreet

Norges Bank did not announce any surprises yesterday, Commerzbank's FX analyst Michael Pfister notes.

NOK continues its recent correction

"Interest rates remained unchanged at 4%, and it was emphasised that a restrictive monetary policy was still necessary, with the next interest rate cut not likely to take place until next year. Considering that the Norwegian and Swedish central banks have been known to spring a few surprises in recent months, this is certainly worth mentioning."

"The Norwegian Krone (NOK) initially gained slightly against the euro following the decision, but subsequently lost all its gains and closed significantly lower due to a stronger euro. Thus, the NOK has continued its recent correction."

"Both currencies have been trending weaker for around two weeks, giving up some of their gains this year. However, we consider this to be only a minor correction and continue to expect both currencies to appreciate slightly in the coming year."

Author

FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

GBP/USD edges higher despite delaying BoE rate hike expectations

GBP/USD inches higher after two days of losses, trading around 1.3600 during the Asian hours. However, the British Pound may encounter headwinds as recent declines in Brent crude oil prices ease immediate inflation concerns. This shift has led money markets to push back expectations for the Bank of England's next interest rate hike from late 2026 into early 2027.

EUR/USD gains on hawkish ECB policy outlook

EUR/USD edges higher after registering minor gains in the previous day, trading around 1.1650 during the Asian hours. The pair gains ground, bolstered by the European Central Bank’s hawkish monetary policy outlook.

Gold resumes profit-taking pullback before Warsh’s Jackson Hole speech

Gold is back in the red below $4,600 early Friday, resuming its corrective decline from 15-week highs of $4,697 earlier this week. Gold bulls are consolidating the upside, awaiting Federal Reserve (Fed) Chairman Kevin Warsh’s debut at the annual Jackson Hole Symposium.

Pi holds steady as Core Team focuses on distributed AI infrastructure

Pi Network (PI) price hovers above $0.0900 on Friday, sustaining the mild 3% gains recorded over the last two days. Pi Core Team announced the launch of new SoloHost apps, OpenClaw and Atlassian MCP Server, on Thursday, in hopes of expanding the Pi ecosystem. PI token must reclaim the $0.1000 psychological threshold for a sustained recovery.

Kevin Warsh’s Jackson Hole dilemma: Say too much, too little, or just enough

Kevin Warsh is preparing to deliver his first Jackson Hole speech as Federal Reserve Chair on Friday, and expectations extend well beyond whether interest rates will be raised or left unchanged in September. The Jackson Hole symposium, held from August 27 to 29, has the official theme “Financial Innovation: Implications for Payments and Policy.”

Kevin Warsh’s Jackson Hole dilemma: Say too much, too little, or just enough

Kevin Warsh is preparing to deliver his first Jackson Hole speech as Federal Reserve (Fed) Chair on Friday, and expectations extend well beyond whether interest rates will be raised or left unchanged in September.