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Market Mood EURNOK 11.02.20

Market Mood EURNOK 11.02.20

Market Mood EURNOK 11.02.20

in Daily Forecasts

Listen to the market mood for the EURNOK currency pair in the coming session:

Weak EUR
The EUR has bearish outlook and Angela Merkel’s CDU is without a transition plan after the resignation of Annegret Kramp-Karrenbauer. Germany is also being exposed to any weakness in China’s economy resulting from the coronavirus.

Strong NOK
The NOK is seeing strength after a significantly stronger than expected inflation reading yesterday. A rise in fish prices has also been supporting NOK and the recovery in oil prices this AM.

Expectations
Therefore, expect EURNOK sellers at pullbacks.

Risks to this outlook
Any positive data for the EUR (though no major data is scheduled today) and any sharp sell-off in oil prices will invalidate this outlook.


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Disclaimer: Any opinions made may be personal to the author and may not reflect the opinions of HYCM. All expressions of opinion are subject to change without notice. This material is considered a marketing communication and does not contain, and should not be construed as containing, investment advice or an investment recommendation or, an offer of or solicitation for any transactions in financial instruments. HYCM makes no representation and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or other information supplied by an employee of HYCM, a third party or otherwise. Past performance is not an indication of possible future performance. Without the approval of HYCM, reproduction or redistribution of this information isn’t permitted.

Legal Information: HYCM is the trading name of Henyep Capital Markets (UK) Limited, HYCM (Europe) Ltd, HYCM Limited and Henyep Capital Markets (DIFC) Limited for which the Henyep Capital Markets group is holding company and its assets are a controlling equity interest in them.

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