+84 888161016

24/7 Customer Support

Mon - Sunday: 24/24

Online store always open

EUR/NOK to trade well below July/August extremes into early 2024 – CIBC

October 20, 2023| Forex Market


The Norges Bank was a leader in terms of policy tightening, beginning back in September 2021. Economists at CIBC Capital Bank see rates peaking at the end of the year.

One last hike for the Norges Bank?

Having hiked rates on 13 occasions, the Norges Bank remains biased towards an additional 25 bps prior to year-end. Absent a material and unexpected retreat in the data, we would look for rates to reach a terminal at 4.50%, by year-end.

The combination of additional tightening, energy price resilience, supporting an already exaggerated current account surplus, allied to ongoing labour market tightness points towards EUR/NOK trading well below July/August extremes into early 2024.

EUR/NOK – Q4 2023: 11.25 | Q1 2024: 10.76


Source link

Categories: Trading tips

Get In Touch!

What type of Forex Tool(s) are you interested in ?
How can we reach you ?