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Forex Forum → Your Announcements → Norway Rate Decision August 19 2021

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Topic: Norway Rate Decision August 19 2021

What does the data mean to the market?

The Norges Bank decision on where to set the benchmark interest rate. Traders watch interest rate changes closely as short term interest rates are the primary factor in currency valuation.

A higher than expected rate is positive/bullish for the NOK, while a lower than expected rate is negative/bearish.



Historic deviations and their outcome

June 18 2020  7th May 2020

A further cut of 0.25% leaving interest rates at an unprecedented 0.00% 

https://calendarapi.galaxysoftwareinc.com/l/aHR0cHM6Ly9jYWxlbmRhci5nYWxheHlzb2Z0d2FyZWluYy5jb20vIy9jYWxlbmRhcjtuYmM9Tk87bm49SW50ZXJlc3QlMjBSYXRlJTIwRGVjaXNpb24
Check out the price action here:
https://calendarapi.galaxysoftwareinc.com/l/27848/aHR0cHM6Ly9jYWxlbmRhci5nYWxheHlzb2Z0d2FyZWluYy5jb20vIy9jaGFydDtpPTI3ODQ4O3Q9MjAyMC02LTE4JTIwODowOjAwLjA7cz1FVVJOT0s7cj1TMQ

March 19 2020  20th March 2020

A further emergency cut of 0.75%  to the interest rate, Leaving interest rates at 0.25% 

https://calendarapi.galaxysoftwareinc.com/l/27738/aHR0cHM6Ly9jYWxlbmRhci5nYWxheHlzb2Z0d2FyZWluYy5jb20vIy9jaGFydDtpPTI3NzM4O3Q9MjAyMC0wMy0yMCUyMDA3OjMwOjAwLjA7cz1VU0ROT0s7cj1NMQ.
Check out the price action here:
https://calendarapi.galaxysoftwareinc.com/l/0/aHR0cHM6Ly9jYWxlbmRhci5nYWxheHlzb2Z0d2FyZWluYy5jb20vIy9jaGFydDtpPTA7dD0yMDIwLTMtMTklMjA5OjA6MDAuMDtzPVVTRE5PSztyPVMx

March 19 2020  13th March 2020

An emergency cut of 0.50%  to the 1.5% interest rates due to the global pandemic unfolding and the expected significant expected impact on the economy, is the first cut to interest rates since 2016 

The world started to go into a meltdown as the realisation of a global pandemic started to unfold. There is no surprise the reaction to this was so poor, not even a blip on the charts.

Due to the unprecedented times this first in a series of emergency cuts which doesn't create anything near the reaction we would likely see if a cut of this nature happened in normal times. A reminder of the impact Covid had in 2020 which I'm glad to say is now behind us and I'll be watching these announcements now and looking for a normal reaction to the data as it's released.

https://calendarapi.galaxysoftwareinc.com/l/16296/aHR0cHM6Ly9jYWxlbmRhci5nYWxheHlzb2Z0d2FyZWluYy5jb20vIy9jaGFydDtpPTE2Mjk2O3Q9MjAyMC0wMy0xMyUyMDA3OjMwOjAwLjA7cz1VU0ROT0s7cj1NMQ..


Check out the price action here:
https://calendarapi.galaxysoftwareinc.com/l/0/aHR0cHM6Ly9jYWxlbmRhci5nYWxheHlzb2Z0d2FyZWluYy5jb20vIy9jaGFydDtpPTA7dD0yMDIwLTMtMTklMjA5OjA6MDAuMDtzPUVVUk5PSztyPVMx




I will use forecasts of:

Interest Rate Decision  0

Today's trade plan

I will set up for any deviation on this trade, although I expect a no-trade as 100% of economists predict no chance of a change in today's rate. However, if a surprise did happen, I would be devastated I wasn't ready.


Tradable pairs

EURNOK
USDNOK


Hope this helps but please do your own analysis!!

Good luck!!

James Thatcher

Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Past performance is not indicative of future results. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

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