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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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Free AccessNOK the Worst Performer in G10 For Second Session
- NOK is sliding for a second session and again taking the place as worst performing currency in G10. Both USD/NOK and EUR/NOK are now through the psychological 10.00 handle and extending the recovery off the August lows to 6.1% and 4.7% respectively.
- Today marks the beginning of the Norges Bank's sized-up FX buying programme, with the bank upping their daily NOK sales to NOK 3.5bln from NOK 1.5bln across August to meet the needs of the sovereign wealth fund.
- Key levels to watch include the 100-dma in EURNOK at 10.0707 and 10.1442 in USDNOK, the 76.4% retracement of the July - August downleg.
- Norwegian Manufacturing PMI crosses at 0900BST and governor Wolden Bache speaks at a Swedbank seminar at 1200BST. Longer-term focus is on August's CPI release on Sept 9th and the Norges Bank decision on Sep 22nd.
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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.