NOK stays supported near term – Danske Bank

Analyst at Danske Bank Mathias Mogensen noted the Norwegian Krone remains well underpinned in the short term.

Key Quotes

“While yesterday’s oil investment survey out of Norway was no game changer in terms of the near-term monetary policy outlook, the release clearly reduces the downside risk to growth in 2017”.

“As long argued, a normalisation in growth and real rate spreads together with valuation arguments should work in favour of a stronger NOK. As long as data does not warrant a rewidening of the NOK risk premium, we should see NOK support”.