#EURNOK @ 10.65555 The path seems paved for a move lower in – Danske Bank
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Economists at Danske Bank pencil in 2023 to be a good year for the Norwegian Krone. They forecast EUR/NOK at 10.40 and 10.10 in three and twelve months, respectively.
“If we are right in our base case that the global recession does not prove too severe or deep and/or energy will prove a top-performing equity sector in the coming years, this leaves a much improved backdrop for NOK in 2023.”
“We forecast EUR/NOK at 10.40 in 3M and 10.10 in 12M.”
“A severe global recession and a sharp sell-off in risk could send EUR/NOK substantially above our projection. On the other hand, a persistent move higher in oil and natural gas prices combined with an improved growth outlook could send EUR/NOK even lower than what we project.”
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