Gold Prices Fall as Treasury Yields Rise on Fed Rate Hike Bets 
Australia Unemployment Hits Five-Year High Despite Strong Jobs Growth 
Dollar Holds Near Two-Month High as Yen Approaches 160 
US Comfortable With Canada Trade Standoff as Import Bans Loom 
Gold Holds Near $4,275 as Rising Treasury Yields Fuel Fed Rate Hike Bets 
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
Asian Stocks Fall as Bond Yields Surge Ahead of Trump-Xi Summit 
Dollar Falls as Oil Eases, Yen Jumps on Intervention Signals 
US 10-Year Treasury Yield at 6% Emerges as New Market Risk Threshold 
Asian Currencies Mixed as Dollar Holds Near Two-Month High 
Add as a preferred source on Google
The EUR/NOK currency pair is not expected to exceed the 9.57-9.60 range for now and should slowly trend back towards 9.50, according to the latest research report from Commerzbank.
Weaker CPI data alone does not mean that Norges Bank will stop its rate cycle. In September the central bank had started the normalisation process and had hiked its key rate.
However, now the October inflation data disappointed, mainly core inflation at only 1.6 percent y/y. At 3.1 percent overall inflation remains well above the inflation target of 2 percent; it means the inflation trend has turned, but certainly not in a worrying manner.
Weaker-than-expected data does not mean the end of the young cycle. In particular as Norges Bank has always stressed that it will be cautious anyway and is not planning the next rate hike until Q1 2019.
Moreover the economy is humming, in particular the mainland economy outside the oil and gas sector. Inflation data would have to disappoint over 2-3 months for Norges Bank to reconsider its whole approach.
