EUR/NOK looks overbought and ready for a correction into H2 – CIBC EURNOK Banks
We expect additional 25 bps rate hikes for both June and September, taking the deposit rate to 3.75%. This is also supported by other evidence – including a robust profile for activity, with the uptick in consumer sentiment and labour market surveys which continue to point to further tightening in conditions.
A more constructive macro backdrop underlines the view of EUR/NOK looking overbought and ready for a correction into H2.Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions.
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