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Trading news
2 Feb 2016
EUR/NOK poised for further upside – Danske Bank
FXStreet (Edinburgh) - Sverre Holbek, Senior Analyst at Danske Bank, sees the cross could edge higher in the next periods.
Key Quotes
“EUR/NOK edged higher on Monday despite January manufacturing coming out better than expected”.
“In addition, details were better than expected with new orders rising to 53.2. The PMI data alone suggest that the worst point for the Norwegian economy was in
Q3 15 but other indicators for private consumption are softening”.
“We believe that risks are skewed to the topside in EUR/NOK near term following the latest oil price rally. Our 1M and 3M EUR/NOK forecasts are 9.60”.
Key Quotes
“EUR/NOK edged higher on Monday despite January manufacturing coming out better than expected”.
“In addition, details were better than expected with new orders rising to 53.2. The PMI data alone suggest that the worst point for the Norwegian economy was in
Q3 15 but other indicators for private consumption are softening”.
“We believe that risks are skewed to the topside in EUR/NOK near term following the latest oil price rally. Our 1M and 3M EUR/NOK forecasts are 9.60”.