Nordics Macro Daily(Beta Mode)
Norges Bank Decision Looms Amid Mixed Nordics
Market Snapshot
| Asset | Level | Change |
|---|---|---|
| OMX Stockholm 30 | 3,305.57 | -0.20% |
| Oslo Bors | 2,040.52 | +0.72% |
| OMX Copenhagen 25 | 1,834.28 | -0.64% |
| OMX Helsinki 25 | 6,227.69 | -0.18% |
| USD/SEK | 9.49 | +0.07% |
| USD/NOK | 9.49 | -0.09% |
| EUR/SEK | 10.95 | -0.05% |
| EUR/NOK | 10.97 | -0.12% |
| Brent Crude | 88.02 | +0.34% |
| Gold | 4,431.70 | +1.60% |
| Bitcoin | 63,920.11 | -1.43% |
| Sweden 10Y Govt Yield | 2.78% | +1.31% |
| Norway 10Y Govt Yield | 4.20% | -2.94% |
Prior Economic Events
| Data | Prior | Cons | Actual |
|---|---|---|---|
| No events available | |||
Sweden 10Y Government Yield | Type: macro_line | Yield %: 2.781 (2026-06-01) | Range: 0.138–3.024 | Trend(6pt): 0.2696,2.01,2.231,2.602,2.745,2.781
Today's Economic Events
| Data | Prior | Cons | Time |
|---|---|---|---|
| Norges Bank Interest Rate Decision | 4.25 | - | 00:00 |
- Sweden manufacturing orders surge 29.9% YoY in June, boosting industrial outlook
- Norges Bank set to announce rate decision on August 13 with CPI at 3.00% YoY
- Nordic equities mixed; Oslo Bors rises 0.72% while OMX Stockholm falls 0.20%
Yesterday's Recap
Nordic equity markets closed mixed on August 10 with limited data releases. OMX Stockholm 30 declined 0.20% to 3,305.57 while Oslo Bors advanced 0.72% to 2,040.52, supported by energy exposure. OMX Copenhagen 25 fell 0.64% and OMX Helsinki 25 slipped 0.18%.
Sweden reported new manufacturing orders up 29.9% YoY in June, signaling robust industrial momentum. Norway’s June industrial production rose 1.4% m/m in line with forecasts. Sweden 10-year yields increased 1.31% to 2.78% while Norway 10-year yields dropped 2.94% to 4.20%.
USD/SEK edged up 0.07% to 9.49 and USD/NOK declined 0.09% to 9.49. Brent crude gained 0.34% to 88.02 amid supply concerns. Gold rose 1.60% to 4,431.70 on safe-haven flows while Bitcoin fell 1.43% to 63,920.11.
Eurozone retail sales contracted unexpectedly in June, weighing on consumption. Broader eurozone GDP expanded 0.4% in Q2, beating forecasts and offering modest support for Nordic exporters. Norway’s oil production averaged 1.82 million barrels per day in July, slightly below forecasts, yet higher Brent prices improve fiscal balances and bolster the sovereign wealth fund.
The Day Ahead
Attention centers on the Norges Bank interest rate decision scheduled for August 13. Markets will assess whether the committee maintains the current stance given Norway CPI at 3.00% YoY. No major releases are listed for Sweden, Denmark or Finland on August 11 or 12.
Traders will monitor any signals on oil revenue flows and krone stability ahead of the announcement. Regional bond markets may see limited movement until the decision. Electricity price forwards on Nord Pool remain elevated into Q4.
Denmark maintains its EUR/DKK peg through alignment with ECB policy while Finland operates under eurozone-wide settings.
Other Economic Notes
Sweden’s low CPI reading of 0.20% YoY continues to support a cautious Riksbank approach after recent easing. Norway benefits from Brent above 88 as higher oil prices improve fiscal balances and support the sovereign wealth fund. The fund now owns stakes in nearly every major global company, equating to roughly 3.78 million kroner per resident on paper.
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