OctaFX | OctaFX Forex Broker
Open trading account

EUR/NOK seen at 8.80 in 12-month – Danske Bank

FXStreet (Edinburgh) - According to Analyst Mikael Milhoj at Danske Bank, the cross could head lower towards the 8.80 region within a year’s view.

Key Quotes

NOK gained substantially yesterday on the back of an unexpected expansionary 2016 budget proposal, implying a fiscal stimulus of 0.7% of GDP, where we expected roughly 0.5%”.

“In our view, this should, in isolation, take some pressure off Norges Bank and supports our call that it will not cut rates further”.

“While NOK is likely to continue to trade in tandem with risk sentiment and oil in the short term, we still expect EUR/NOK to trade substantially lower on a six- to 12 month horizon, targeting the cross at 8.80 in 12M”.

EUR/GBP re-attempts hourly 100-SMA on BOE

The bid tone on the GBP took a hit after BOE decision and minutes turned out to be a non-event, thus driving the EUR/GBP cross towards session highs.
Read more Previous

JPY: BoJ’s hesitancy in policy easing contributing to firmer yen

Lee Hardman, Currency Analyst at MUFG, suggests that the BoJ provided no clear signal yesterday that further easing is imminent which is helping the yen to trade on a firmer footing in the near-term.
Read more Next
Start livechat