Forex Analysis & Reviews: 19.11.2020 - USD/NOK: Norwegian krone's...

Equipe InstaForex Loprais - Participante oficial do rali Dakar

This section features the most important information about trading with InstaForex. We provide both analysis from leading experts for experienced traders and articles on trading conditions for beginners. Our services will help increase your profit potential.

Become Trader

Abertura de Conta

Veja também

Condições de Negociações

Análise Forex

Gráficos

This section is designed for those who are just starting their trading journey. InstaForex educational and analytical materials will meet your training needs. Our experts' recommendations will make your first steps to trading success simple and clear.

Start as Beginner

Como começar a negociar

Informação útil

Training and recordings

InstaForex innovative services are an essential element of productive investment. We strive to provide our clients with advanced technical capabilities and make their trading routine comfortable as we are recognized as the best broker in this regard.

Become Investor

Sistema PAMM

Sistema ForexCopy

Investimentos passivos

Contas OYS

Partnership with InstaForex is beneficial and top-tier. Join our affiliate programs and enjoy bonuses, partner rewards, and the possibility to travel with the team of the world-renowned brand.

Become Partner

Página Principal

Área do Parceiro

Vantagens para Afiliados

Registro

This section contains the most lucrative offers from InstaForex. Receive bonuses when topping up an account, compete with other traders, and get real prizes even when trading in a demo account.

All Promo Campaigns

Bonuses

Concursos

Eventos

Holidays with InstaForex are not only pleasant but also useful. We offer a one-stop portal, numerous forums, and corporate blogs, where traders can exchange experiences and become successfully integrated into the Forex community.

Full details

Fórums

Estamos nas redes sociais

Humor Forex

Portal Forex

InstaForex is an international brand created in 2007. The company provides services for online FX trading and is recognized as one of the world's leading brokers. We have won the trust of more than 7,000,000 retail traders, who have already appreciated our reliability and focus on innovations.

Learn More

História

Porque nos escolher

InstaSport

Regulamentação

Notícias da Empresa

Premiações

Estrelas da InstaForex

InstaForex Offline

Headquarters

Principais documentos

Responsabilidade Social

Equipe InstaForex Loprais - Participante oficial do Rali Dakar

19.11.2020 11:31 AM

USD/NOK: Norwegian krone's growth will succeed

A lot of investors are turning to Scandinavian currencies, when most countries were covered by the second wave of the COVID-19. One of Scandinavian currencies is the Norwegian krone, which has been unnoticed for a long time.

Deutsche Bank's currency strategists believe that there is a high possibility that NOK will grow in the long-term. This is supported by the country's stable economy and the ability to control the spread of COVID-19 due to territorial limitations. Moreover, senior analyst from the indicated bank, Robin Winkler, is sure that Scandinavian currencies such as the Norwegian and Swedish krona will be in favor, while global reflation strengthens.

Experts say that a fairly strong economic growth recently recorded in Norway will allow it to avoid another downturn. A potential reduction in economic activity was predicted in the winter of 2021, but the Norwegian economy is coping well with the current challenges, so difficulties are not expected. The second wave of the COVID-19 pandemic failed to destroy the Norwegian economy, unlike the larger European territories which are currently suffering. As a small state with an open economy, Norway is dealing with the coronavirus threat faster and easier.

The economic recovery of this northern country is supported by stable prices in energy markets. According to experts, this will allow Norway to hold out until an effective vaccine against COVID-19 is released. As a result, the country will be one of the first, along with Sweden, to receive collective immunity. If so, the Norwegian economy will gain an advantage over other European states.

Therefore, experts think that the current situation is favorable for the growth of the Norwegian krone. It is currently undervalued against the dollar by 25%, which is a high figure. Today, the USD/NOK pair is trading near the range of 9.0314-9.0315. The pair's dynamics are quite lively, and it is able to sharply rise at certain moments.

However, not all analysts are optimistic about the indicated currency. Commerzbanks' currency strategists are cautious about the possible growth of NOK. The bank agrees that the price of Norwegian krone may rise after the introduction of an effective vaccine against COVID-19. However, there is one problem: the uncertainty about the country's economic prospects, which limits the growth of the national currency. According to a macroeconomic report released last Tuesday, the Norwegian economy was able to recover in the third quarter of 2020, but this did not give its national currency a new impulse.

Moreover, the bank's analysts argued that NOK still remains vulnerable in the short-term planning range, but will be able to recover by the end of 2020. Its positive dynamics is supported by the rise in oil prices and relative stability in the world market.

Therefore, we can expect the Norwegian krone to continue rising in the first half of 2021, as there are a number of favorable factors that can turn to its advantage. Experts believe that this will be successful for the Scandinavian currency.

You have already liked this post today

*A análise de mercado aqui postada destina-se a aumentar o seu conhecimento, mas não dar instruções para fazer uma negociação.