This is the Forex quote for the Euro versus the Norwegian Krone. In this quote, the value of one Euro ('base currency') is quoted in terms of the Norwegian Krone ('counter currency'). The value of the Norwegian Krone compared to other currencies, in particular the EUR, is often correlated to changes in oil prices and interest rates. Thus, with rising oil prices and interest comes Krone strength relative to other currencies and vice versa.
The Dollar slipped just before its bullish reversal could get its footing while gold outright tumbled. I am dubious of both moves. My video for today: '#Dollar Builds Its Range on Same Sparks that Turn S&P 500, Gold Reversal' https://www.dailyfx.com/forex/video/daily_news_report/2020/08/12/Dollar-Builds-Its-Range-on-Same-Sparks-that-Turn-SP-500-Gold-Reversal.html?ref-author=Kicklighter&QPID=917719&CHID=9 https://t.co/b743hgerTf
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