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NOK Little Changed Ahead of Norges Bank; Hold In Rates Expected

NORGES BANK

NOK is little changed against the G10 ahead of today’s Norges Bank decision.

  • We don’t expect a major market reaction to the June decision, with a hold in rates and an upward rate path revision firmly embedded in consensus.
  • However, should the updated rate path see a larger than expected revision (e.g., more than 25bps higher), this may prompt NOKSEK to test clustered resistance at the 50/100-day EMAs (around 0.9920).
  • Our full Norges Bank preview can be found here.
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NOK is little changed against the G10 ahead of today’s Norges Bank decision.

  • We don’t expect a major market reaction to the June decision, with a hold in rates and an upward rate path revision firmly embedded in consensus.
  • However, should the updated rate path see a larger than expected revision (e.g., more than 25bps higher), this may prompt NOKSEK to test clustered resistance at the 50/100-day EMAs (around 0.9920).
  • Our full Norges Bank preview can be found here.