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MS have put out the following trade...........>

FOREX
FOREX: MS have put out the following trade recommendation.
- Sell EURNOK at Nok9.7770, stop at Nok9.9000, target at Nok9.4000. They note
higher oil prices and strong Norwegian economic performance should support NOK.
Inflation has surprised to the upside in Norway, and NOK may gain as the Norges
Bank prepares the market for a hike. They expect the Norges Bank to move in June
- market pricing reflects a 60% chance that the Norges Bank hikes then. The
Norwegian government has increased 2019 fiscal stimulus - improving growth
differentials with RoW and cushioning the economy against trade-induced
turbulence or a downturn in the Euro area economy.

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