- Analytics
- News and Tools
- Market News
- NOK to strengthen when risk-sentiment improves and oil prices rise again – Nordea
NOK to strengthen when risk-sentiment improves and oil prices rise again – Nordea
Over the last week, things have gone from bad to worse for the Norwegian krone. However, economists at Nordea believe that we are near the top in both EUR/NOK and USD/NOK – NOK should strengthen when risk-sentiment improves and oil prices rise again.
Omicron will steer markets
“We believe the risk for the oil price is to the upside over the short-term as the cold weather should give oil demand an extra boost during the winter months. Higher oil prices will be good news for NOK.”
“There are signs that Omicron is milder compared to Delta strain and early indications suggest that vaccines are still effective against severe disease. If this is proven to be the case over the next few weeks, sentiment in financial markets should improve. Conversely, if Omicron is proven to be worse and/or vaccines to be ineffective, things could worsen a bit more.”
“Norges Bank’s rate meeting next week could impact the NOK. Some pundits have even gone so far as to question the December hike. We don’t share their view. As things look now, we believe Norges Bank will hike in December and publish a similar rate path as the one from September.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
