- We enter a long USDNOK trade recommendation at 7.8030,
targeting 8.1500, with a stop placed at 7.6900.
- Upcoming event risk, the relative rate outlook, positioning and
technicals all support a rise in USDNOK.
- We expect the Norges Bank to cut rates next month. In
addition, we expect OPEC to maintain its current production
target at the June meeting.