Stay bullish on NOK – Danske Bank

The Norwegian Krone keeps the bullish view for the time being, said Jakob Christensen, Chief Analyst at Danske Bank.

Key Quotes

“The NOK has been trading on a solid footing alongside the USD, which in our view has to do with (1) Nibor fixings following the price of offshore USD and (2) the recent NOK/SEK support from technicals”.

“We remain bullish on the NOK and emphasise today’s Expectations Survey from Norges Bank as the next important data point. In particular, look out for any wage expectation details as this could have an impact on Norges Bank’s forecasts at the March monetary policy meeting. We remain long NOK/SEK spot and short EUR/NOK via options”.