News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Wall Street
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • The Federal Reserve rate decision is likely to sway the near-term outlook for the price of gold as the central bank appears to be on track to scale back monetary support. Get your weekly gold forecast from @DavidJSong here:
  • Forex liquidity makes it easy for traders to sell and buy currencies without delay, and also creates tight spreads for favorable quotes. Low costs and large scope to various markets make it the most frequently traded market in the world. Learn more here:
  • Forex quotes reflect the price of different currencies at any point in time. Since a trader’s profit or loss is determined by movements in price, it is essential to develop a sound understanding of how to read currency pairs. Learn how to read quotes here:
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here:
  • Get your snapshot update of the of top level exchanges and key index performance from around the globe here:
  • RT @FxWestwater: Japanese Yen Forecast: JPY Crosses Eye BoJ, CPI as Haven Flows Bolster Yen Strength Link: https:/…
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here:
  • Stocks appear to be in a corrective phase but could get put to the test; levels and lines to watch in the days ahead. Get your weekly equities forecast from @PaulRobinsonFX here:
  • Currency exchange rates are impacted by several factors. Are different world leaders a contributing factor? Find out here:
  • Further your forex knowledge and gain insights from our expert analysts on AUD with our free guide, available today:
Norwegian Krone Eyeing Norges Bank Rate Decision After FOMC

Norwegian Krone Eyeing Norges Bank Rate Decision After FOMC

Dimitri Zabelin, Analyst


  • Norges Bank anticipated to raise rates to 1.00%
  • Gloomy FOMC outlook may weigh on rate hike
  • USD/NOK to hurt briefly but resume uptrend

See our free guide to learn how to use economic news in your trading strategy!

Norwegian Krone (NOK) traders will be eagerly tuning into today’s rate decision from the Norges Bank. The general consensus is an expectation that policymakers will lift rates from 0.75 percent to 1.00. Despite Norway’s economy exceeding economists’ expectations for several months, there is doubt in the underlying strength and momentum.

Concerns about slower growth out of China, the US and Europe – the latter of which is particularly important for Norway– may impact forward guidance on monetary policy. This follows Wednesday’s FOMC meeting which included a gloomier-than expected outlook for US economic growth and inflation. USD/NOK subsequently plunged, though the extent of the drop may not last long. More on that later.

If you want to receive greater in-depth technical and fundamental analysis on USD/NOK, you may follow me on Twitter @ZabelinDimitri.

As one of the largest exporters of natural gas – and the EU’s second-biggest supplier – the Norwegian Krone is sensitive to changes in global demand. The bedrock of Norway’s economy rests on the petroleum sector and accounts for a significant portion of their benchmark OBX equity index.

OBX Equity Index, Crude Oil Prices – Daily Chart

Chart Showing Crude Oil Prices, OBX

This then brings us to the central question: with an economy that is supported by a growth-sensitive commodity, can Norway endure a policy measure that may tighten credit conditions? With Europe slowing as political uncertainty in the region rises, their exports to the EU may dwindle, and could therefore weigh on Norway’s GDP.

If the Norges Bank does indeed raise rates, it may elicit a spike in the Krone, though the duration and upside momentum will likely fade. Markets have already priced in a hike, and traders will likely quickly sober up to the reality that the fundamental outlook globally and for Norway remains dim. Now, if the central bank held rates, NOK would likely plummet to a greater degree than it would rise if policymakers raised rates.

This is because a hold on rates would signal that officials are more pessimistic than previously thought and would catch investors off-guard. Capital flight from the Scandinavian currency would then likely ensue and would send USD/NOK higher.

If risk sentiment continues to sour, traders may then flock to the US Dollar as its appeal as an anti-risk asset grows against the backdrop of slower growth and uncertainty. This is primarily what has, and what will likely continue to drive the pair higher.


--- Written by Dimitri Zabelin, Jr Currency Analyst for

To contact Dimitri, use the comments section below or @ZabelinDimitrion Twitter

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.