the Crown is strengthened with around ten cents against the euro in recent days, and Nordea Markets says, according to TDN Finans that it is difficult to spot any clear drivers.
“With OPECs kuttavtale has the oil price been fixing at around USD 55/barrel. The Norwegian economy has turned and the risk that it goes really bad is almost gone. The housing market is brennhett. In line with this, Norges Bank cancelled any further interest rate cuts and the interest rate differential has come a good part out. Has the journey towards 8,50 now begun?”, writes Nordea Markets in morgenrapporten.
Danske Bank Markets type according to the news in morgenrapporten that the crown now is at levels against the euro, which provides technical support, and suggested more strengthening in the short term. But brokers want to be more careful, and see signs that the euro/dollar-the junction is oversold.
the Crown is the Friday morning little changed against the euro, on the 8,9170, compared with the level it was at when the Oslo stock Exchange closed on Thursday. Against the u.s. dollar is the crown in the same period also almost unchanged at 8,3551.
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