NOK: Above consensus CPI to support krone - ING
NOK decoupled from SEK during the past days as the meaningful rise in the oil price provided support to krone, explains the research team at ING.
“Data-wise, the focus turns to the Oct CPI (Fri) which should still remain well below target (1.6% in Sep vs 2.5% target). Yet, we believe the consensus estimate of 1.4% looks too low. An upside surprise to CPI should be NOK positive, with EUR/NOK converging towards 9.4500.”