Norway: EUR/NOK shorts, NOK/SEK possible buy – Nordea

Analysts at Nordea recommend to o pen shorts in the EUR/NOK pair wich is currently sitting at 10.1304 while they see the NOK/SEK pair as an opportunity to buy at the price of 1.0420 right now. 

Key quotes

“We still think it makes sense to put on EUR/NOK shorts around current levels.” 

“NOK/SEK does look heavy though, with important support in the 1.03-1.0320 area. Looking at relative surprise indices NOK/SEK might even be heading further down. We suspect that the pair will be a nice buy around here for those of a slightly longer-term persuasion, though we’d prefer a EUR/NOK short if we were forced to choose.”

“Our short CAD/NOK position has been stopped out (@ 7.00)”