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Approaches 20-day EMA As Sell-off Extends

NOK

NOKSEK has sold off sharply in the last hour, with the cross now 0.4% lower today at 0.9908 and approaching the 20-day EMA at 0.9901 and last Friday’s low of 0.9889.

  • Recent moves lower in Brent over the last ~15 minutes will have weighed on the cross, with yesterday evening’s sell-off in Brent futures providing an additional layer of pressure.
  • Domestic headline flow has otherwise been light.
  • EURNOK has seen a smaller move higher, broadly unchanged on the day.
  • The Norges Bank’s Q1 Bank Lending Survey is due at 0900BST/1000CET.

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