20 Aug 2013
Flash: EUR/NOK seen at 7.80 in 3 months - UBS
FXstreet.com (Córdoba) - The Norwegian mainland economy, that excludes the offshore oil production, grew by just 0.2% q/q in Q2, disappointing market expectations. The UBS analyst team commented on the subject.
Key Quotes
“The EURNOK jumped on the news by over 1% to 7.99”.
“Other economic data confirm that growth is currently rather moderate. However, increasing inflation and a weaker NOK of late make changes to the key policy rate of the Norges Bank unlikely”.
“We maintain our view of EURNOK at 7.80 in 3 months and see a good opportunity to short EURNOK from current levels”.
Key Quotes
“The EURNOK jumped on the news by over 1% to 7.99”.
“Other economic data confirm that growth is currently rather moderate. However, increasing inflation and a weaker NOK of late make changes to the key policy rate of the Norges Bank unlikely”.
“We maintain our view of EURNOK at 7.80 in 3 months and see a good opportunity to short EURNOK from current levels”.