This reinforces the observe from Barclays here. In line with Deutsche, the greenback stands poised to learn going into month-end however particularly in opposition to the NOK. The agency argues to fade any USD/NOK weak point main as much as the month-end commerce date itself as positioning flows might result in outsized strikes within the pair.
They observe that the robust efficiency of the OBX index and really robust seasonality on the month-end commerce date itself as being two key components in seeing the greenback bid in opposition to the Norwegian krone. Moreover that, Deutsche additionally says that its 10-year seasonality issue factors to greenback demand in opposition to the antipodes i.e. AUD and NZD as nicely on the month-end commerce date itself.
