EUR/NOK seen trending lower towards the 9.40 area on a 12-month view – Rabobank

EUR/NOK is trading slightly below the 10 level. Economists at Rabobank expect the pair to tick down towards the 9.40 mark over the coming months.

Strong demand for Norway’s energy products to keep NOK well supported

“We favour selling EUR/NOK into rallies and expect the currency pair to trend moderately lower towards the 9.40 area on a 12-month view.” 

“Strong demand for Norway’s energy products is likely to keep the NOK well supported. The absence of an energy crisis of the sort facing the eurozone should also allow for a moderate downward trend in EUR/NOK.”