Increased focus on bank losses and more turmoil surrounding the future of the euro, are amongst the things that will influence the forex market the coming week, Norwegian brokerage firm DnB NOR Markets writes in their weekly FX update. Here’s also DnB NOR’s weekly recommendations of stocks listed at the Oslo Stock Exchange.
“The euro seems vulnerable.”
DnB NOR Markets
“We now expect new QE measures from FED, and hence expect USD to remain at today’s levels short term. Longer term we are still USD positive. We are still bearish on the euro going forward, as fiscal tightening is expected to weigh down on growth,” analysts Camilla Viland and Maren Romstad writes.
Adding: “NOK TWI is still relatively strong. We are more or less neutral regarding NOK going forward, but due to euro weakness EURNOK is expected to trade lower going forward.”
In this weeks analysis DnB NOR Markets takes a closer look at the GBP.
Ms. Viland and Ms. Romstad belive in a stronger British Pound.
“Developments in key figures and growth in particular has been a hot topic in markets lately.”
- British GDP grew by 4.9 % q/q s.a.yr in Q2.
- However, several indicators points towards weaker growth going forward.
- Still, we believe in stronger growth than in the euro area.
- And our estimates for British growth are perceived as somewhat more positive than consensus’ view, while we seem to be more negative than consensus regarding European growth.
- Our view on relative growth, thus indicate a stronger GBP going forward.
Equities; New Recommendations
DnB NOR Markets published Monday the following BUY-recommends of shares listed at the Oslo Stock Exchange:
- • Algeta
• Sparebanken Nord-Norge
• Aker Solutions
• BWG Homes
• BWG Offshore
• Fred. Olsen Energy
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