US Dollar/Norwegian Krone (USD/NOK) Exchange Rate
USD/NOK Pivot Points
USD/NOK Latest Updates
The Norwegian Krona surged in Thursday trading in London after Norges Bank took a decidedly hawkish turn.
The USD/NOK pair rose during the session on Monday as we continue to grind higher overall.
The USD/NOK pair fell initially during the course of the session on Thursday, dropping down to the 8.60 handle.
The Norwegian krone is normally thought of as a proxy for the crude oil market. More specifically, I find that it correlates nicely with the Brent market, as Brent North Sea is the grade that most often is found when drilling in the North Sea itself.
The USD/NOK pair fell a bit during the course of the session on Tuesday as we continue to struggle near the 8.71500 level.
The USD/NOK pair continues to show real strength overall, as we are reaching towards the highs again at the 80.57 region. Get the November 2015 forecast for the USD/NOK pair here.
The USD/NOK pair fell during the course of the session on Tuesday, as we broke down below the bottom of the shooting star from Monday.
The USD/NOK pair initially went much higher during the course of the day on Friday, cracking above the 8.56 handle.
The Norwegian central bank surprised markets with a rate cut earlier today in an effort to jumpstart growth there. With oil exports as a key industry in the Scandinavian country, Norway’s economy has been feeling the pinch of the recent oil price slump.
The Norwegian Krone, generally considered a safe haven currency, earlier skidded to its lowest level in nearly 8 months versus the Euro.
Oil prices plunged in the wake of an agreement between major world leaders and the Iranian government which provides Iran with the lifting of certain earlier imposed sanctions.
The USD/NOK pair is one that a lot of you unfortunately don’t trade. However, I implore that you should as it is such a pure were play to the oil markets.
The USD/NOK pair broke higher during the course of the session on Tuesday, testing the bottom of the previous trend line that held as support for so long.
The USD/NOK pair initially shot higher during the session after a short-term pullback, but Wednesday ended up printing a relatively bearish reversal signal.
The Norwegian krone is starting to exert its will against the US dollar. As you can see on the attached chart, there was a clear and fairly obvious uptrend line that the market had been following for some time.
The USD/NOK pair fell hard during the day on Tuesday, crashing into a major uptrend line. I believe that this market will continue to go higher, not only because of this trend line, but the fact that the 7.85 level below is so supportive.
The USD/NOK pair went back and forth during the course of the session on Monday, slamming into the 8.00000 handle.
The USD/NOK pair fell initially during the session on Wednesday, but as you can see bounced from these 7.7980 region for the second day in a row, this time forming a hammer.
The USD/NOK pair initially tried to fall during the course of the session on Wednesday, but found enough support to turn things back around and test the 7.85 level.
The USD/NOK pair had a positive session during the day on Friday, as we continue to see upward pressure on the US dollar. After all, the Norwegian krone is going to be tied to the oil markets which of course have been very soft lately to say the least.