"Overall, the direction of #copper is up, but following the latest surge to a record high - the timing of which occurred somewhat sooner than expected - a period of consolidation looks increasingly likely. Given how far copper has travelled in a relatively short period of time, the contract can retrace all the way back to USD 4.56 or even USD 4.40 per pound without disturbing the bullish setup."
@olavchen Norges Banken is single-handedly ruining the value of the Krona, if they just hedge a small part of their FX reserves, EURNOk would be trading at 10-10.50, leaving a much easier path towards 2% inflation.. really poor policy by @NorgesBank once again!
@torvollalokken it seems the positive flows towards NOK in Q1 isn’t enough to strengthen the currency, despite risk-on and oil trading higher.. should we expect lows in NOK to be breached over next 6-9 months instead?
@PeterCWarren Hopefully @NorgesBank will follow in the footsteps of @riksbanken, and hedge part of their FX reserves in 2024 - should help change the flow/trend of a weakening Krona.