Oil Prices Dip as Trump Eyes Iran De-escalation, Hormuz Closure Persists 
South Korea Manufacturing PMI Hits 4-Year High in March 2025 Driven by Semiconductor Demand 
Gold Prices Rebound in Asia Amid Iran War Ceasefire Hopes 
Australia Bans Card Payment Surcharges Starting October 2025 
Dollar Surges to Monthly High as Middle East Conflict Rattles Global Markets 
WTO Ministerial Collapse Leaves Global Digital Trade Rules in Limbo 
South Korea's Exports Hit Record High in March on AI-Driven Chip Demand 
Oil Prices Surge to Record Monthly Highs as Middle East War Rattles Global Markets 
South Korea's $17.3 Billion Emergency Budget Targets Oil Price Surge 
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.
