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.