EUR/NOK seen higher by year-end – Danske Bank

Kristoffer Lomholt, Senior Analyst at Danske Bank, expects the cross to edge higher by end of 2017.

Key Quotes

“We have for some time argued that risks were skewed to the upside for EUR/NOK. Friday brought little NOK help from a slightly higher oil price and decent NAV labour market report as the sour NOK sentiment got an additional boost from the disappointing retail sales release in the early morning”.

“Overall, the latest price action seems to underpin our view on positioning as a NOK headwind. Fundamentally, we still want to play a higher EUR/NOK going into year-end but for now we prefer to await better entry levels”.