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Upside limited in EUR/NOK – Danske Bank

FXStreet (Edinburgh) - According to Analyst at Danske Bank Kristoffer Lomholt, occasional bullish attempts by the cross should appear as limited for the time being.

Key Quotes

“In the Scandi FX markets, Norges Bank’s regional survey released Friday showed that the risk of second-round effects from the low oil price seems lower than in August”.

“In our view, this should remove any needs for Norges Bank to be pre-emptive and we see this as the final nail in the coffin in respect of speculation whether Norges Bank will cut in December and we expect rates to be kept on hold”.

“This should take away some of the upside risks to EUR/NOK given the little probability of further cuts in Norway and as ECB easing has been priced out of the market”.

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