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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
NorwayNorway M3 Money Supply fell to 3,645.5B in July 2026
FMPMonthlyReleased August 2026
Norway M3 Money Supply fell to 3,645.5B in July 2026, released August 2026, down 11.5B from June's 3,657B reading.
Latest Release
3645.500000
Actual
—
Consensus
3657.000000
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 |
|---|---|---|---|---|---|
| USD/NOK | ▼ Inverse | −0.50 | FOREX | Moves against | → View |
| EUR/NOK | ▼ Inverse | −0.45 | FOREX | Moves against | → View |
| WTI Crude | ▲ Direct | +0.40 | COMMODITIES | Moves with | → View |
| EUR/USD | ▲ Direct | +0.30 | FOREX | Moves with | → View |
| XAU/USD | ▲ Direct | +0.30 | COMMODITIES | Moves with | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
M3 Money Supply (Norway) was reported at 3,645.50 billion in August 2026. The reading fell from the previous value of 3,657.00 billion. Trailing 12-month context per ETL data through August 2026.
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with USD/NOK (Bullish NOK). A secondary relationship exists with EUR/NOK, negatively correlated (Bullish NOK).
WHAT TO WATCH NEXT
The next release is scheduled for September 24, 2026. Same-country events in the next 14 days include Interest Rate Decision (Sep 24).
Auto-generated from current model state · Refreshes on each release · Last update August 2026.
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M3 Money Supply - NO
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About M3 Money Supply — Norway
DEFINITION
M3 Money Supply is a key financial indicator that measures the total amount of money in circulation within an economy. It includes all forms of money, such as cash, checking and savings deposits, and other liquid assets. This indicator is closely monitored by economists and policymakers as it provides insight into the overall health and stability of an economy. Changes in the M3 Money Supply can impact inflation, interest rates, and economic growth, making it an important tool for analyzing and forecasting economic trends.
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 (Jul 2026): actual 3,645.5 B. Prior reading (Jun 2026): 3,657 B. Before that (May 2026): 3,611.7 B.
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 bullish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary tailwind in the current projection. This indicator correlates most strongly with USD/NOK (Bullish NOK, r=-0.50) — a useful reference for forex-focused traders.
Σ
EXPECTED ZONE
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Economic Calendar - NO Events
| Tuesday, September 15, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 06:00 | NO | Balance of Trade | 84.3 | 95.1 | 80.65 | Low | |