The economic backdrop due to the COVID-19 crisis and energy price collapse has entailed a steep fiscal stimulus impulse. Analysts at Danske Bank expect a continued strengthening of the NOK, with the EUR/NOK pair at 10.30 in 12 months. In contrast, TD Securities’ analysts believe a test of 11.10 could be a-going Key quotes “Analysis by the NB has indicated a skepticism towards negative rates and a preference for liquidity/credit measures supplementing the large fiscal muscle whenever rates have been cut to the zero lower bound.” “The extensive fiscal spending (almost NOK250bn) is funded via the oil fund, which entails a direct 1:1 buying of NOK and selling of FX. This turns the underlying capital flows in favour of the NOK, which, along with a stabilisation in physical energy demand as economies gradually reopen, leads us to expect a continued strengthening of the NOK.” “We forecast EUR/NOK at 10.90 in 1M, 10.80 in 3M, 10.50 in 6M, and 10.30 in 12M.” 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 EU’s von der Leyen: Global fundraising for COVID-19 vaccine, drugs reaches EUR10 bln FX Street 3 years The economic backdrop due to the COVID-19 crisis and energy price collapse has entailed a steep fiscal stimulus impulse. Analysts at Danske Bank expect a continued strengthening of the NOK, with the EUR/NOK pair at 10.30 in 12 months. In contrast, TD Securities’ analysts believe a test of 11.10 could be a-going Key quotes “Analysis by the NB has indicated a skepticism towards negative rates and a preference for liquidity/credit measures supplementing the large fiscal muscle whenever rates have been cut to the zero lower bound.” “The extensive fiscal spending (almost NOK250bn) is funded via the oil fund, which entails… 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.
