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Norges Bank coming up

NOK
USDNOK drifts towards session low, with the NOK outperforming across the board, against all majors (Besides the Rand, trading flat).
  • Coming up at the top of the hour, sees Norges Bank rate decision, expected to stay unchanged at 0%.
  • As per MNI preview: With no new rate path projections or policy report at this week's decision, markets expect no new signals from the bank board, leaving market focus on June's policy update.
  • March's rate path projections were slightly more hawkish than expected, with the first rate hike now flagged for December (brought forward by around a quarter from the December MPR)

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