NOK seen appreciating further in the next months – Danske Bank

Senior Economist at Danske Bank Vladimir Miklashevsky noted the Norwegian Krone remains poised to gather upside traction in the next months.

Key Quotes

“In the Scandi sphere, EUR/SEK was remarkably calm for once yesterday, but EUR/NOK headed steadily lower through the day in what – to us – looks increasingly like a warm-up to a hiking cycle”.

“Indeed, yesterday’s Regional Network Survey in Norway marked the final key release ahead of next week’s Norges Bank meeting. The headlines were better than the details, yet overall the report was strong and underpins our bullish view on the NOK. We are short the EUR/NOK spot outright”.