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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.
NOK
EURNOK has sustained yesterday's rally above the 11.60 handle to reach a 3-month high, as a weaker fixed income backdrop pressures sentiment.
- EURNOK had traded between 11.40-11.60 since mid-August (with the exception of 4 trading days in late September on the back of strong Brent prices), and so markets will eye if the latest break can be sustained. The next upside level seen is the July 6 high at 11.7770.
- Overall, Scandis are a touch cheaper against the G10 this morning, with NOKSEK remaining just below parity - tomorrow's labour market data from Sweden could provide some direction but global flows will be the main expected price drivers.
- This morning saw the Norway Q3 Business Tendency Survey released, where the contractionary -2.2 print (vs -5.1 prior) masked large sectoral differences between capital goods (aided by new field developments in the oil/gas sector) and consumer/intermediate goods.
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.
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