EUR/NOK seen between 9.25/9.40 – Danske Bank

Analyst Mathias Mogensen at Danske Bank assessed the recent price action around the Norwegian Krone.

Key Quotes

“In Scandies, NOK is mirroring movements in the oil prices while awaiting important data releases on Thursday”.

“Oil prices dropped back late yesterday from highs reached on Friday, dragging NOK down in the process”.

“We see limited near-term upside to oil prices and look for EUR/NOK to trade in the range of 9.25-9.40 in the short term”.