Finally the market saw what is characterized as a healthy correction of the persistent bull trend, and fell a solid NOK in an otherwise thin market. There seems to be no immediate belief in a u-turn, however, since the amounts of precipitation in today’s forecasts are only marginally higher than yesterday. And repeat: To change the trend a lot of precipitation will have to be delivered.
Small changesA Norwegian player today pointed out that the soil water is so low now, that two to three weeks of rain above average is needed to get normal inflow. Shortly rain turns into snow and then there will be no inflow at all. He also argued that the uptrend has lasted so long that profit has been taken along the way, and hence no dive is expected if the weather shoul
Dienstag, 1.10.2002, 12:10 Uhr
Sara Fagernes
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