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Policy
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Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM POLICY: -
G10 Markets
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Real-time insight on key fixed income and fx markets.
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Real-time insight of emerging markets in CEMEA, Asia and LatAm region
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Real-time insight of oil & gas markets
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MNI Research
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
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Free Access###POV: NOK'S RECOUPLING WITH BRENT COULD.......>
NOK: ###POV: NOK'S RECOUPLING WITH BRENT COULD TRIGGER FURTHER STRENGTH
-Late January saw the lowest correlation (just +0.12) between the NOK TWI and
the active Brent crude futures contract since late 2014. The correlation has
recovered (last seen at circa +0.26) but remains well below the 2015-date
average of +0.4.
-Political risk has hurt the NOK on two fronts: a confrontation with the EU over
the Third Energy Package and a political scandal surrounding the country's
Justice Minister. Both those issues were resolved this week, but the currency is
yet to catch up with Brent crude's near 5% rally since Monday. With the oil-NOK
correlation on the mend, further NOK strength may follow to close this gap.
-USD/NOK has already found resistance today on an approach into the NOK 7.7924
mark, the downward trend line which has touched nearly four times since the
December highs.
-The most profitable trading strategy for USD/NOK of the past 12 months has been
the Triangular MA strategy, which continues to suggest a short USD/NOK position
dating back to Mar12.
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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.