NOK stays sidelined, looks to risk trends – Danske Bank

Senior Analyst at Danske Bank Mikael Milhoj noted the Norwegian Krone is likely to remain within the current consolidative theme for the time being.

Key Quotes

“In Scandies, NOK has seen support from rallying risk appetite and EUR/NOK is yet again down to the low end of the 9.47-9.75 range”.

“Today’s house price report from Real Estate Norway is likely to be strong – but that is already widely expected by FX markets and hence we do not expect the release to have any significant impact on NOK FX”.

“This week, global risk appetite will remain the key driver of NOK”.