EUR/NOK poised for further upside – Danske Bank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 2, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    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”.
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