Norwegian CPI lower - leading to small pop in EURNOK

CPI figures are not the best to trade in this type of environment with alot of market uncertainty meaning inflation is unlikely to make central banks adjust interest rates, as they instead keep them very low to help stimulate the market...

on December 14th the Norge Bank cut rates more than expected by 0.5% or 50 basis points (bps) to 1.75%, this lower inflation figure now shows us why they were able to and it could mean they have more room to cut in the future if they need to. EURNOK rallied a bit as the Norwegian Krona weakened as a result. Not a huge move but good to keep our eyes open.

Here the figures:

Norway CPU (MoM)
Estimates: Median +0.3% Average +0.3% Range -0.5% to +0.7%
Acutal: +0.1% Prior: 0.0% No Revisions
Norway CPI (YoY)
Estimates: Median +0.5% Average +0.4% Range -0.4% to +0.8%
Actual: +0.2% Prior: +1.2% No Revisions
Norway Underlying (MoM)
Estimates: Median +0.2% Average +0.2% Range -0.3% to +0.4%
Actual: +0.2% Prior: -0.2% No Revisions
Norway Underlying (YoY)
Estimates: Median +1.0% Average +1.0% Range +0.5% to +1.2%
Actual: +1.0% Prior: +1.0% No Revisions
Norway Producer Prices incl.Oil (MoM)
Estimates: Median +0.3% Average +0.2% Range -0.4% to +0.8%
Actual: +0.2% Prior: +1.4% No Revisions
Norway Producer Prices incl.Oil (YoY)
Actual: +8.2% Prior: +12.9% No Revisions


The first chart is the 10 second chart of EURSEK:

and the 1 minute of the same pair: