EUR/NOK vigilant on OPEC meeting – Danske Bank

The Norwegian Krone is expected to remain cautious ahead of the upcoming OPEC meeting, suggested Mathias Mogensen, Analyst at Danske Bank.

Key Quotes

“EUR/NOK has been range trading to start the week before tomorrow’s OPEC meeting, which is the highlight this week in the oil market”.

“There seems to be strong consensus in the market for a 9M extension of output cuts. In turn, this outcome should not move either the oil price or the NOK significantly. If anything, we see slight downside risk to Brent and upside risk to EUR/NOK around the meeting”.