OctaFX | OctaFX Forex Broker
Open trading account
Back

NOK hinges on Norges Ban and oil – Danske Bank

FXStreet (Edinburgh) - Analyst at Danske Bank Kristoffer Lomholt sees the NOK’s price action depending on the Norges Bank and oil-dynamics.

Key Quotes

“In respect of the NOK, we note that a falling oil price previously has triggered a rate cut in Norway, and viewed in isolation, the new low in Brent indeed has increased the probability of another rate cut from Norges Bank”.

“Recent data have been rather mixed but, in our view, not weak enough to trigger a rate cut, and our overall judgment is still that Norges Bank will keep interest rates unchanged at its rate setting meeting on 17 December”.

“However, a low oil price will surely keep rate cut speculations alive and thus remain a supporting factor for EUR/NOK going into the meeting”.

“According to our shortterm financial models, yesterday’s sharp rise in EUR/NOK to 9.40 was fair and the cross trades very close to the model’s fair estimate of 9.4267”.

Technical recession in Japan, kicked away by falling crude - MUFG

Lee Hardman, Currency Analyst at MUFG, suggests that the BoJ is likely to be even less willing to ease monetary policy further in the near-term after the release of the stronger than expected second estimate of Japanese GDP in Q3.
Read more Previous

US Treasury: 2.15%/2.17% resistance is expected to hold with 2.37% attracting - RBS

Dmytro Bondar, Technical Analyst at RBS, suggests that the US treasuries market saw a recovery after getting support at the 125-09 futures level.
Read more Next
Start livechat