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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
- NOK remains the poorest performer in G10, with USD/NOK narrowing in on the Sept'22 high of 11.0111 - a break above which puts the pair at the best levels since the 2020 pandemic.
- Moves follow the Q2 expectations this morning that showed a marked step-down in inflation expectations for this year (4% from 6%) and over the 2-3y horizon (4.3% from 5.4%) - the retrace of inflation expectations provides further evidence that price pressures among households may have peaked - representing the first step down in expectations since 2019.
- Norges Bank's Q1 MPR continues to see inflation pulling lower in the coming months - meaning today's pullback in expectations may not be outside of policymaker forecast. Focus remains on the Jun 22 rate decision and fresh set of projections, at which the bank are seen upping their rate path for the coming few months.
Figure 1: Norges Bank Q1 MPR Inflation Expectations
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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