NOK stays bullish long term – Danske Bank

Sverre Holbek, Senior Analyst at Danske Bank sees the Norwegian Krone picking up pace in the next months.

Key Quotes

“In Norway, we got a strong Regional Network Survey on Tuesday, which indicated that the Norwegian economy is recovering from the oil shock”.

“EUR/NOK fell significantly after the release to 8.92, before closing slightly up at 8.94, a level which seems fair also according to our short-term financial models. In the long term, we remain bullish on the NOK and forecast the cross at 8.70 in 6M and 12M”.