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
Natural Gas sinks to pivotal level as China’s demand slumpsNatural Gas price (XNG/USD) edges lower and sinks to $2.56 on Monday, extending its losing streak for the fifth day in a row. The move comes on the back of China cutting its Liquified Natural Gas (LNG) imports after prices rose above $3.0 in June. It
Natural Gas price (XNG/USD) edges lower and sinks to $2.56 on Monday, extending its losing streak for the fifth day in a row. The move comes on the back of China cutting its Liquified Natural Gas (LNG) imports after prices rose above $3.0 in June. It
The dollar weakened, equities fell, and gold set new records on Wednesday as investors waited for a Fed rate cut later in the day.
After a turbulent 2025, what lies ahead for commodities, forex, and cryptocurrency markets in 2026?
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.
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
Related Instrument
