EUR/NOK has still room to fall in the days and weeks to come – Nordea

The NOK has done well lately. Economists at Nordea analyze Krone’s outlook.

Higher NOK sales not a game changer

Today’s announcement for a minor rise in NOK sales on behalf of the Government will unlikely be a game changer for NOK in the short term.

The main risk for the NOK remains a correction in the stock market which could spill over in commodity markets. 

We still keep our view for EUR/NOK around 11.50 by year-end, but the cross has still room to fall in the days and weeks to come.