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Danske Bank analyst Lomholt released a report stating that the recent strong performance of the Norwegian krone lacks a sustainable foundation. Although expectations of a rate hike by Norges Bank provide short-term support for the krone, structural headwinds are eroding the asset’s appeal.Compared with the eurozone, Norway faces a more pronounced negative output gap. Its core inflation remains elevated, and the widening gap in unit labor costs is further undermining competitiveness. These macroeconomic fractures are causing the relative positioning of Norwegian assets in cross-market allocations to continue declining.The institution specifically warned of acute downside risks to Norway’s mainland economy. If weakened domestic demand resonates with volatility in energy revenues, the euro/Norwegian krone return distribution in the coming years will likely skew significantly toward a weaker krone.Danske Bank gave a clear exchange rate path forecast, expecting the euro/Norwegian krone to rise from the current 11.0413 level to 11.50 over the next 12 months. If developments in the Middle East drag down oil demand expectations, a contraction in Norway’s oil and gas export revenues combined with domestic economic weakness could deliver a double blow, and the krone may then face even greater selling pressure.

UBS continues to assign ASML its "Most Preferred" rating, considering its business momentum strong and its valuation attractive, but notes that risks such as geopolitical factors still warrant attention.

Golden Ten Data, April 17 – According to a report by UK shipping media Lloyd's List on the 17th, since the beginning of this week, at least eight ships have breached the US blockade and are heading to Iranian ports or planning to load Iranian goods.