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The US Dollar / Krone is the most popular pair to trade the Norwegian currency. The price of the Krone is influenced by changes in interest rates and oil prices. The pair saw a lot of volatility between 2002 and 2008 because of the changes in oil prices and the global financial crisis. Norway's economy largely benefits from trade, and a lot of that trade is done with the UK and the Euro-zone. Therefore, the Krone is significantly affected by changes in those economies.


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Weekly US Dollar and Norwegian Krone Trading Forecast

Symbol Forecast Outlook

USD/NOK Pivot Points

US Dollar and Norwegian Krone News

Norway: Wrap-Up and Look Ahead (March 23-27)
The Norwegian Krone appreciated against the US Dollar last week, and will look to continue its momentum next week with the release of Credit, Employment and Retail Sales data.
Despite Incumbent Risks, Norges Bank Holds Interest at 1.25%
At present key indicators remain in line with December projections. However, the presence of substantial risks leaves further easing as the general bias.
Amongst Emerging Market Pairs, the U.S. Dollar Takes the Cake
FX Sales Remain Steady in March as Norwegian Production Slows
With oil prices consolidating around $50/b, the sale of FX will remain at NOK 700 m/day in March. Meanwhile Norway's manufacturing activity slows on weak production.
USD/NOK - Looking Like A Technical Knock-out (TKO)
USDNOK top looks to be in place.

Forex Economic Calendar

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Date Time Currency Event Importance Actual Forecast Previous Notes
Mar 30
USD Personal Consumption Expenditure Core (YoY) (FEB) 1.4% 1.3% 1.3%
Mar 31
USD Consumer Confidence (MAR) 96.4 96.4
Apr 1
USD ISM Manufacturing (MAR) 52.5 52.9
Apr 3
USD Change in Non-farm Payrolls (MAR) 248K 295K
USD Unemployment Rate (MAR) 5.5% 5.5%