OctaFX | OctaFX Forex Broker
Open trading account
Back

EUR/NOK looks overbought – Danske Bank

The up move in the cross appears overdone for the time being, suggested Jens Sorensen, Chief Analyst at Danske Bank.

Key Quotes

“NOK was also hit hard yesterday, breaking above the 9.63 resistance level”.

“Indeed, Norwegian Q3 GDP growth came out slightly weaker than expected and while weak risk appetite and a lower oil price can justify some NOK weakness, the bounce in EUR/NOK seems overdone and probably driven by negative spill over from the sell-off in the SEK”.

“In our view, EUR/NOK price action underlines the risk scenarios we have outlined for the NOK going into year-end”.

UK: Signs of slowing in the labor market - BBH

The UK's employment report showed signs of slowing in the labor market as the number of people working fell (14k) for the first time in a year, points
Read more Previous

Brazil: Back to the politics - Nomura

According to Joao Pedro Ribeiro, Research Analyst at Nomura, as the central bank’s cutting cycle nears its end, the focus has increasingly shifted bac
Read more Next
Start livechat