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
Gold Price Trend Forecast: Expectations of Easing US-Iran Tensions Boost Gold Prices, $4,070 Becomes Key Level for Bulls and BearsAs of the Asian session on July 21, gold prices ( XAUUSD) staged a rapid intraday rebound, rising 1.56% on the day to touch a high of $4,084.28. From a technical perspective, gold prices
As of the Asian session on July 21, gold prices ( XAUUSD) staged a rapid intraday rebound, rising 1.56% on the day to touch a high of $4,084.28. From a technical perspective, gold prices
Euro declines to near 1.1400 as US launches fresh strikes on IranThe EUR/USD pair posts modest losses around 1.1410 during the early Asian trading hours on Tuesday. Renewed tensions between the United States (US) and Iran continue to fuel risk-off sentiment, weighing on the Euro (EUR) against the US Dollar (USD).
The EUR/USD pair posts modest losses around 1.1410 during the early Asian trading hours on Tuesday. Renewed tensions between the United States (US) and Iran continue to fuel risk-off sentiment, weighing on the Euro (EUR) against the US Dollar (USD).
Tesla Q2 Earnings Preview: Record Deliveries Fail to Hide Profit Pressure, Can Musk Rely on AI and Autonomous Driving to Unlock New Growth Space?Tesla ( TSLA) will release its second-quarter financial results after the U.S. market close on July 22, Eastern Time. As one of the most closely watched technology and automotive companie
Tesla ( TSLA) will release its second-quarter financial results after the U.S. market close on July 22, Eastern Time. As one of the most closely watched technology and automotive companie
Crude Oil Price Forecast: Worsening US-Iran Tensions Support Oil Prices Breaking Above $90, Can Brent Crude Return to $100?As of the Asian session on July 20, Brent crude ( UKOIL) opened higher and moved higher today, attempting to break through the $90 mark during intraday trading, reaching a high of $91.42.
As of the Asian session on July 20, Brent crude ( UKOIL) opened higher and moved higher today, attempting to break through the $90 mark during intraday trading, reaching a high of $91.42.
West Texas Intermediate (WTI) oil price opened at a bullish gap, trading around $83.50 per barrel during the Asian hours on Monday.
Related Instrument
