EUR/NOK will move around 11.50 until the summer – Nordea
Source Fxstreet
The Norwegian Krone (NOK) has weakened slightly since the start of the year. Economists at Nordea analyze EUR/NOK outlook.
EUR/NOK to trade around 11.25 by year-end
We believe that EUR/NOK will trade broadly sideways around 11.50 until the summer, but that does not mean it will move along a straight line.
When rates abroad are lowered during the second half of 2024, we see NOK faring better and expect EUR/NOK to trade around 11.25 by the end of 2024.
Looking at technical levels, we see that 11.20 area has been a solid bottom for EUR/NOK while the area around 12.00 has been a ceiling EUR/NOK rarely has been over.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
At 3:21 AM Beijing time during the Asian trading session, Spot gold (XAUUSD) fell nearly 9% intraday, at one point dropping below the $4,100 per ounce mark. This not only erased all gains
Iran’s Islamic Revolutionary Guard Corps (IRGC) said that it will completely shut the strait if US President Donald Trump proceeds with his threats to target Iranian energy facilities, the Guardian reported on Monday.
$180 Oil Prices Imminent? Saudi Arabia Warns: Crisis to Last Until Late April, Oil Prices Will Break Historic HighsThe continuous escalation of geopolitical conflicts in the Middle East is pushing global energy markets toward their most severe test in nearly 20 years.The Wall Street Journal reports th
The continuous escalation of geopolitical conflicts in the Middle East is pushing global energy markets toward their most severe test in nearly 20 years.The Wall Street Journal reports th
Gold tumbles below $4,650 as inflation fears and liquidity squeeze weighGold price (XAU/USD) remains under selling pressure near $4,640 during the early Asian session on Friday. The precious metal extends the decline as soaring crude oil and energy prices, driven by the escalating US-Israeli war with Iran, reignite inflation fears.
Gold price (XAU/USD) remains under selling pressure near $4,640 during the early Asian session on Friday. The precious metal extends the decline as soaring crude oil and energy prices, driven by the escalating US-Israeli war with Iran, reignite inflation fears.
The crypto market experienced a significant pullback, Bitcoin (BTCUSD) fell below the key $70,000 mark during intraday trading, triggering short-term stop-loss orders and causing market s
Related Instrument
