News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Bullish
Oil - US Crude
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Wall Street
Mixed
Gold
Mixed
GBP/USD
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
USD/JPY
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • Chinese Q1 exports rise 38.7% y/y in Yuan terms, imports up 19.3% y/y and trade surplus at 759.3b Yuan -BBG
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.78%, while traders in Germany 30 are at opposite extremes with 75.83%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/qyG3FM0e7r
  • Update on #Cryptocurrencies #BITCOIN +0.95% #BITCOINCASH -1.51% #ETHEREUM +0.76% #RIPPLE +8.21% #LITECOIN +0.83%
  • What suits your style of trading stocks or commodities? Find out what are the differences in these two markets here: https://t.co/BnA07cMV0s https://t.co/Wuzmi2C95V
  • Stocks on Wall Street retreated from record highs while Treasury yields climbed following smooth bond auctions. The Hang Seng and ASX 200 indexes are poised to gain slightly ahead of Chinese trade data. https://www.dailyfx.com/forex/market_alert/2021/04/13/SP-500-Pauses-Record-Rally-Hang-Seng-and-ASX-200-Drift-Higher.html https://t.co/elDSHDBIgJ
  • Wall Street Futures Update: Dow Jones (+0.03%) S&P 500 (+0.01%) Nasdaq 100 (-0.01%) [delayed] -BBG
  • Forex quotes reflect the price of different currencies at any point in time. Since a trader’s profit or loss is determined by movements in price, it is essential to develop a sound understanding of how to read currency pairs. Learn how to read quotes here: https://t.co/CNtqrKWDBY https://t.co/ns6TUdfkEA
  • Semiconductor shortage labeled as a top and immediate priority for President Biden - The White House
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here: https://t.co/9S5tXIs3SX https://t.co/eWXK8yCaI0
  • 8 out of 11 S&P 500 sectors ended higher, with 62.6% of the index’s constituents closing in the green. Consumer discretionary (+0.56%), real estate (+0.55%) and consumer staples (+0.45%) were among the best performers, while energy (-0.94%) trailed behind. https://t.co/6ld01hQLRm
Norwegian Krone, Swedish Krona Eyeing Brexit, ECB, FOMC

Norwegian Krone, Swedish Krona Eyeing Brexit, ECB, FOMC

Dimitri Zabelin, Analyst

TALKING POINTS – BREXIT DEAL, MONETARY POLICY, ECB RATE DECISION, FOMC

  • ECB, FOMC, Brexit main focus for NOK, SEK, global markets
  • How will slower European growth impact Nordic economies?
  • Norway CPI could be overshadowed by external event risks

See our free guide to learn how to use economic news in your trading strategy!

Global markets are in for a volatile day over the remaining 24 hours. The FOMC is preparing to release its meeting minutes, the ECB is announcing its next rate decision with commentary by Mario Draghi, and the EU’s verdict on granting the UK government a Brexit extension is due. Because of the global impact from all of these potential market-disrupting factors, local Nordic data may as a result be overshadowed due to the focus on external event risks.

The release of the FOMC meeting minutes will reveal the Fed’s outlook for monetary policy going forward, and what some of the board members’ outlook is for global growth and how the central bank intends to respond. As outlined in my weekly Nordic fundamental outlook, if policymakers’ forecasts are adequately pessimistic enough for them to believe a cut is warranted, it could result in a substantial amount of volatility.

The ECB will be releasing its interest rate decision with policymakers anticipating a hold, though commentary from Mario Draghi will likely be the market-moving event. At the last meeting it sent USD higher against all its major counterparts amid a heightened sense of risk aversion after the central bank cut inflation forecasts. Given the IMF’s recent global growth forecast, it is likely the ECB will deliver a similar outlook.

Today the 27 EU member states decide on whether to grant the UK government a Brexit extension. The emergency summit was called by European Council President Donald Tusk who has also proposed allowing a one-year flexible exit date, permitting the UK to leave on or before the one-year mark. Were this to occur, the UK would likely have to participate in the upcoming European parliamentary elections.

In the Nordics, Sweden’s Prospera inflation report is expected to be released with expectations that inflation will be lower than what Riksbank policymakers are hoping for. In Norway, CPI data will be published and is looking to outperform relative to economists’ expectations. This may largely be due to part the recent recovery in crude oil prices.

Because of the Norwegian economy’s heavy reliance on the petroleum sector, key benchmark assets – like the Krone and OBX equity index – closely track the movement in crude. This also leaves the country vulnerable to changes in global sentiment, a particularly important theme for Krone traders to keep in mind given the growing concern about waning global demand.

CHART OF THE DAY:

Chart Showing crude oil prices, OBX, Norway Economy, Krone Index

NORDIC TRADING RESOURCES

--- Written by Dimitri Zabelin, Jr Currency Analyst for DailyFX.com

To contact Dimitri, use the comments section below or @ZabelinDimitrion Twitter

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES