USDNOK fell over one percent after the Norges Bank chose to raise its benchmark interest rate and provided a hawkish outlook for monetary policy.
Japanese Yen Drops, GBP Briefly Above 1.27, NOK Outperforms - US Market Open
USDNOK and USDSEK are both experiencing retreats at an alarming rate, potentially opening the door to a short-term break in critical support areas.
The Swedish Krona and Norwegian Krone will likely experience higher-than-usual volatility ahead of the ECB rate decision and critical European and US data.
NOK traders will be eagerly awaiting the release of first-quarter GDP data, though optimism over the outcome may be overshadowed by shaky US-China trade relations and outlook the for crude oil prices.
The Norwegian Krone is strengthening after Norways central bank left interest rates unchanged but said its policy rate will most likely be increased next month.
USD/SEK is approaching what may be a new support after spiking more than two percent last month, while USD/NOK is approaching resistance.
The economic docket in Sweden and Norway remains light, but critical data out of the US and Europe may jolt Nordic currencies. Swedish Krona traders are eyeing the upcoming Riksbank rate decision.
NOK, SEK – along with global markets – will be eyeing tomorrow‘s release of the FOMC meeting minutes, the ECB rate decision and the EU’s verdict on whether the UK will get an extension.
The Swedish Krona and Norwegian Krone face a heavy week filled with major market-moving event risk from Brexit, the ECB rate decision and the release of the FOMC minutes
USD/SEK and USD/NOK broke through key support levels as US Dollar strength faded and short-term volatility is to be expected from central bank-related event risk this week.
USD/SEK and USD/NOK retreated and re-entered familiar trading ranges after reaching multi-year highs. The technical outlook may be complicated by volatility from the upcoming Brexit
USD/NOK traders will be eyeing the release of Norways industrial production data. Will the recent slump in economic performance prompt the central bank to postpone
The Swedish Krona and Norwegian Krone appear to be edging higher toward key resistance levels. If the price barriers are broken, it might re-reinforce bullish
The Norwegian Krone and Swedish Krona may find it increasingly difficult to climb higher as the EU economy slows down, potentially dampening economic activity in
The Norwegian Krone and Swedish Krona may fall when each countrys respective unemployment data is released. 2019 headwinds could weigh on the OBX and OMX