EUR/NOK seen below 9.0000 in 12-month – Danske Bank

Analyst at Danske Bank Kristoffer Lomholt believes the cross could slip below the 9.000 mark in a year’s view.

Key Quotes

“We expect EUR/NOK to trade around current levels in the coming month with the very short-term risks skewed to the upside”.

“We target the cross at 9.40 in 1M. We maintain the view that fundamentals limit the medium-term downside potential and that we need to see a growth pick-up at end-2016-17, together with a repricing of NOK rates, to trigger a sustainable move lower”. 

“We forecast EUR/NOK at 9.30 in 3M, 9.20 in 6Mand 8.90 in 12M”.