MNI BRIEF: Fed's Collins Urges Patience On Judging Inflation

CORRECTED: MNI BOE WATCH: On Hold And Splits Set To Continue

MNI China Daily Summary: Tuesday, June 18

MNI: PBOC Net Injects CNY84 Bln Via OMO Tues; Rates Unchanged

CHINA PBOC CONDUCTS CNY86 BILLION VIA 7-DAY REVERSE REPOS TUES

MNI: US TSY TICS NET FLOWS IN APR +$66.2B

US Treasury Auction Calendar

Notable Moderation In PCCI In May, But Services Persistence Still Noted

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Commodity Price Action Supports Krone

NOK
DataHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

NOK outperforms the G10 alongside CHF, with this afternoon’s oil and gas price action providing support.

  • An unplanned outage at the Norwegian Nyhamna gas processing facility prompted a brief rally in TTF futures earlier, buoying the NOK even after the rally in Nat-Gas futures faded.
  • A subsequent extension higher in oil futures provided further upside momentum. Our commodities team has highlighted a technical break in the August Brent crude contract (the May 29 high at $84.72/bbl) alongside a broader recovery in diesel margins this month as drivers.
  • EURNOK is 0.6% lower at typing, with the June 12 at 11.3623 the first support.
  • The Norges Bank decision on Thursday headlines this week’s domestic calendar. We don’t expect a major market reaction to the decision, with a hold in rates and an upward rate path revision firmly embedded in consensus.
  • Our full preview can be found here.
145 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

NOK outperforms the G10 alongside CHF, with this afternoon’s oil and gas price action providing support.

  • An unplanned outage at the Norwegian Nyhamna gas processing facility prompted a brief rally in TTF futures earlier, buoying the NOK even after the rally in Nat-Gas futures faded.
  • A subsequent extension higher in oil futures provided further upside momentum. Our commodities team has highlighted a technical break in the August Brent crude contract (the May 29 high at $84.72/bbl) alongside a broader recovery in diesel margins this month as drivers.
  • EURNOK is 0.6% lower at typing, with the June 12 at 11.3623 the first support.
  • The Norges Bank decision on Thursday headlines this week’s domestic calendar. We don’t expect a major market reaction to the decision, with a hold in rates and an upward rate path revision firmly embedded in consensus.
  • Our full preview can be found here.