FX:USDNOK Macro Outlook, Analysis & Market Commentary
Traders & Investors!
The Norwegian krone currently offers the prospect of serious value as markets fail to price solid economic performance against the backdrop of hawkish monetary stimulus. Reasons currently include discounts in exportation pricing due to selloff's in Oil, Natural Gas & Salmon prices. We remain optimistic on a rebound in these markets and as such a flow on effect to bids in the NOK.
From a technical perspective we begin building into our short bias initially by fading highs and progressively building into our extension targets of KR9.50xx. An impulsive shift lower and break of the ascending channel and strong conviction through the 200DMA should see a move into our macro targets of KR8.50xx where buyside liquidity currently sits.
Views on US Dollar Positioning
We begin loading into sellside exposure across both our macro and directional portfolios.
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We look forward to continuing to provide market leading analysis to traders & investors alike across the TradingView platform.
Like, subscribe and leave your comments below!
Until next time,
Portier Capital
Macro Strategy & Portfolio Management
The Norwegian krone currently offers the prospect of serious value as markets fail to price solid economic performance against the backdrop of hawkish monetary stimulus. Reasons currently include discounts in exportation pricing due to selloff's in Oil, Natural Gas & Salmon prices. We remain optimistic on a rebound in these markets and as such a flow on effect to bids in the NOK.
From a technical perspective we begin building into our short bias initially by fading highs and progressively building into our extension targets of KR9.50xx. An impulsive shift lower and break of the ascending channel and strong conviction through the 200DMA should see a move into our macro targets of KR8.50xx where buyside liquidity currently sits.
Views on US Dollar Positioning
We begin loading into sellside exposure across both our macro and directional portfolios.
-------------------------
We look forward to continuing to provide market leading analysis to traders & investors alike across the TradingView platform.
Like, subscribe and leave your comments below!
Until next time,
Portier Capital
Macro Strategy & Portfolio Management