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
NO rates average 0
NO rates forecast Q1 0
NO rates forecast Q10 0
NO rates forecast Q11 0
NO rates forecast Q12 0
NO rates forecast Q2 0
NO rates forecast Q3 0
NO rates forecast Q4 0
NO rates forecast Q5 0
NO rates forecast Q6 0
NO rates forecast Q7 0
NO rates forecast Q8 0
NO rates forecast Q9 0

Today's trade plan

I will set