FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

NOK on Top as Norges Bank Drop Emergency Policy Stance

FOREX
  • The Norges Bank raised rates by 25bps to 0.25%, exiting their emergency pandemic policy stance. While the rate hike was expected, the bank also name-checked December as the next likely month to see a raise in rates, and also steepened the longer-end of the rate path projections - boosting the terminal rate to 1.68% from 1.56%.
  • This worked in favour of NOK, pressuring EUR/NOK to new monthly lows and narrowing the gap with the bear trigger at the late April lows of 9.8998.
  • Equities again trade firmer - following the lead of a solid Asia-Pacific session. Equity strength is working against haven currencies, pressing JPY to the bottom of the G10 pile. The greenback also trades weaker, despite the USD Index briefly showing above the Wednesday high in early trade.
  • The Bank of England rate decision is up next, as well as rate decisions from the Turkish and South African central banks. Weekly US jobless claims and Canada's retail sales release for July are also due.
Energy BulletsCommodities
Energy BulletsCommodities

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.