Economists at Nordea see NOK trading sideways against both EUR and USD in the short-term. EUR/NOK will likely fall somewhat further this year – only very gradually – but the downside in USD/NOK is very limited. Risk is to the upside for both EUR/NOK and USD/NOK crosses “We see EUR/NOK trading in the range 10.00-10.25 in the short-term, but the risk is to the upside – as it usually is over brief periods.” “Somewhat higher oil prices and higher rates in Norway is why we hold our view for EUR/NOK coming below 10.00 by the summer. But the downside from there is likely restricted: EUR/NOK traded mostly in the range 9.50-10.00 during 2018/19 and we don’t expect to see much more downside than that.” “We see USD/NOK trading sideways in the short-term, but the risk is to the upside. Norges Bank hiking the key rate later this year and higher oil prices ahead point in the direction of a somewhat stronger NOK on a trade weighted basis. However, we also believe the USD will strengthen somewhat ahead.” “A continued strengthening of both NOK and USD is why we see a fairly stable USD/NOK ahead. If we were forced to lean in any direction, the USD could strengthen somewhat more than NOK due to the outperformance of the US economy. Anyhow, we see very limited downside in USD/NOK ahead.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next VeChain price at risk of a pullback as technicals spell trouble for the bulls FX Street 2 years Economists at Nordea see NOK trading sideways against both EUR and USD in the short-term. EUR/NOK will likely fall somewhat further this year - only very gradually - but the downside in USD/NOK is very limited. Risk is to the upside for both EUR/NOK and USD/NOK crosses "We see EUR/NOK trading in the range 10.00-10.25 in the short-term, but the risk is to the upside - as it usually is over brief periods." "Somewhat higher oil prices and higher rates in Norway is why we hold our view for EUR/NOK coming below 10.00 by the summer. But the downside… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
