NOK expected to pick up pace by year-end – BAML

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 5, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - According to BofA Merrill Lynch Global Research, the Norwegian krone is seen significantly undervalued at current levels, and might gather traction towards the end of 2015.

    Key Quotes

    “Our year-end forecasts appear a bit far away as renewed oil price weakness dragged NOK lower”.

    “We acknowledge the downside risks to our NOK view, but hold stead for now, keeping our year-end EUR/NOK forecast at 9.15 given our commodity team’s outlook of a bounce in oil prices into year-end, as well as expectations for significant easing from the ECB in December”.

    NOK also looks significantly undervalued from a fundamental perspective as well as relative to long term averages”.
    For more information, read our latest forex news.

Share This Page

free forex signals