- EUR/NOK to retreat back toward levels last seen in late February at around 10.90/10.85 – CIBC
Market news
10 August 2023
EUR/NOK to retreat back toward levels last seen in late February at around 10.90/10.85 – CIBC
Economists at CIBC Capital Markets expect to see a rally in the Norwegian Krone.
Resilient domestic fundamentals sit alongside positive terms of trade dynamics
While the uptick in price pressures remains a cause for concern, we’d also note a positive fundamental bias that validates underlying NOK resilience.
Resilient domestic fundamentals sit alongside positive terms of trade dynamics.
Positive NOK dynamics leave us mindful of EUR/NOK retreating back toward levels last seen in late February, at around 10.85/90 over time.
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