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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
NorwayNorway Credit Indicator fell to 4.4% in July 2026
FMPMonthlyReleased July 2026
Norway Credit Indicator fell to 4.4% in July 2026, down 0.1% from June's 4.5% reading.
Latest Release
4.400000
Actual
—
Consensus
4.500000
Previous
Sigmacast Track Record
Sigmacast track record will appear here once this indicator has been released 3+ times since Sigmanomics began tracking.
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Co-movement | Action |
|---|---|---|---|---|---|
| XAU/USD | ▲ Direct | +0.72 | COMMODITIES | Moves with | → View |
| DAX | ▼ Inverse | −0.69 | INDEX | Moves against | → View |
| S&P 500 | ▼ Inverse | −0.55 | INDEX | Moves against | → View |
| Euro STOXX 50 | ▼ Inverse | −0.48 | INDEX | Moves against | → View |
| BTC/USD | ▼ Inverse | −0.40 | CRYPTO | Moves against | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Credit Indicator (Norway) was reported at 4.4% in July 2026. The reading fell from the previous value of 4.5%. Trailing 12-month context per ETL data through July 2026. Over the past 12 months, the indicator has averaged 4.21%, ranging from 3.8% to 4.6% across 12 releases.
WHY IT MATTERS
The trailing three releases averaged 4.43%, down from the prior three at 4.47%.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with XAU/USD (Bullish XAU). A secondary relationship exists with DAX, negatively correlated (Bearish DAX).
WHAT TO WATCH NEXT
Same-country events in the next 14 days include Interest Rate Decision (Aug 13).
Auto-generated from current model state · Refreshes on each release · Last update July 2026.
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Credit Indicator - NO
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About Credit Indicator — Norway
DEFINITION
The Credit Indicator is a key financial measure that tracks the availability and usage of credit within an economy. It provides valuable insights into the overall health of the credit market and can be used to assess the level of risk and potential impact on economic growth. This indicator is closely monitored by financial institutions, policymakers, and investors to make informed decisions and identify potential opportunities or risks in the credit market. By analyzing the Credit Indicator, stakeholders can gain a better understanding of the current credit conditions and make strategic decisions to manage their credit exposure.
WHY THIS INDICATOR MATTERS
This release contributes to the broader macro picture used by cross-asset investors for positioning and risk management. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Jun 2026): actual 4.4 %. Prior reading (May 2026): 4.5 %. Before that (Apr 2026): 4.4 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a similar reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bearish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary neutral force in the current projection. This indicator correlates most strongly with XAU/USD (Bullish XAU, r=0.72) — a useful reference for commodities-focused traders.
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EXPECTED ZONE
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Economic Calendar - NO Events
| Friday, July 31, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 06:00 | NO | Unemployed Persons | 62.1 | 61.7 | 61.6 | 61.85 | Low |
| 06:00 | NO | Loan Growth YoY | 4.4 | 4.5 | 4.5 | 4.45 | Low |
| 06:00 | NO | Registered Jobless Rate | 2.1 | 1.9 | 2.1 | 2.10 | Low |
| 06:00 | NO | Unemployment Rate n.s.a | 2.1 | 1.9 | 2.1 | 2.10 | Low |