EUR/NOK settles below 8-week high, posts weekly gain
The EUR/NOK currency pair settled below recent high of 11.8392, its strongest level since April 30th, after French and Spanish inflation figures for June outpaced market consensus.France’s annual cons
The EUR/NOK currency pair settled below recent high of 11.8392, its strongest level since April 30th, after French and Spanish inflation figures for June outpaced market consensus.
France’s annual consumer inflation picked up to 0.9% in June, preliminary data showed, from 0.7% in May (the lowest rate since February 2021).
Spain’s annual CPI inflation picked up to 2.2% in June from 2% in May (the lowest rate since October 2024).
The data could add to speculation that the European Central Bank is moving closer to the end of its monetary easing cycle.
Elsewhere, the seasonally adjusted unemployment rate in Norway has risen to 4.6% in May from 4.4% in April. It has been the highest jobless rate since July 2021.
The number of unemployed individuals rose by 7,000 to 141,000, data by Statistics Norway showed.
The EUR/NOK currency pair settled 0.26% higher at 11.8038 on Friday.
The exotic Forex pair gained 1.40% for the week.
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