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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.
NORGES BANK
Norges Bank FX purchases will decline to NOK400mln in July (vs NOK550mln the prior two months). NOKSEK saw minimal reaction to the release, sitting some 0.1% above pre-data levels at typing.
- This morning, the Norwegian tax authority noted that the petroleum tax take for 2024 is expected to be approximately NOK352bln.
- The 2024 revised budget in May expected “Taxes and fees from Petroleum activities” to total NOK416bln.
- All else equal, this downward revision should reduce Norges Bank’s FX purchase needs going forward in 2024.
- The authority noted that the fall in tax revenue relative to 2023 is mainly due to increased investments (hence larger tax deductions) and energy price/exchange rate movements.
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.
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