EUR/NOK might breach the 12 mark if Norwegian inflation comes in below expectations – Commerzbank
The Norwegian Krone is struggling. Economists at Commerzbank analyze NOK outlook ahead of inflation data due for publication on Friday.
Weak data would probably ensure that Krone continues to struggle
After the September inflation data disappointed on the downside, the market adjusted its rate expectations for December to the downside. If the data for October now were to come in below expectations too the market would lower its expectations further so that EUR/NOK might breach the 12 mark for good.
Weak data would probably ensure that Krone continues to struggle. For the market to change its view the price data would have to surprise significantly on the upside.