12 May 2015
EUR/NOK seen at 8.55 in 1-m – Danske Bank
FXStreet (Edinburgh) - Morten Helt, Senior Analyst at Danske Bank, believes the cross could head towards the 8.55 level in 1-month view.
Key Quotes
“In Scandies, the most interesting price action has been in EUR/NOK, which rebounded following the Norges Bank (NB) meeting, in line with our view”.
“We believe that the market will price in a full 25bp rate cut ahead of the NB meeting in June and forecast EUR/NOK to reach 8.55 in 1M”.
“As always, the oil price remains the joker for the NOK but we believe that the recent sharp rally is coming to an end”.
Key Quotes
“In Scandies, the most interesting price action has been in EUR/NOK, which rebounded following the Norges Bank (NB) meeting, in line with our view”.
“We believe that the market will price in a full 25bp rate cut ahead of the NB meeting in June and forecast EUR/NOK to reach 8.55 in 1M”.
“As always, the oil price remains the joker for the NOK but we believe that the recent sharp rally is coming to an end”.