NOK to stay under pressure near term – Danske Bank

Arne Rasmussen, Head of FI Research at Danske Bank, gave his views on the Norwegian Krone.

Key Quotes

“Meanwhile, the NOK has weakened slightly at the beginning of the week despite oil stabilising and with no significant market movers”.

“The rest of the week is likely to bring another set of strong domestic data, starting off with today’s retail sales where we have an above-consensus call (watch out for Easter effects)”.

“Importantly, however, the NOK is not driven by strong domestics at this stage which is also why we are less upbeat on the NOK near-term than most other local houses”.

“We do share the view that the NOK will move higher on a 6 -12M horizon but we do not share the record post-crisis optimism among local economists”.