Euro Holds the Line: EURUSD Finds Support at the 365-EMA as Peace Talks Loom 
FxWirePro: GBP/USD biased higher but rally currently stretched 
FxWirePro: GBP/AUD gains some upside momentum but still bearish 
FxWirePro: USD/JPY holding bid into weekend 
FxWirePro: GBP/USD bulls remain cautiously optimistic 
FxWirePro- Major European Indices 
FxWirePro- Major Pair levels and bias summary 
Bitcoin’s Volatile Reset: ETFs Rebound as Bulls Eye USD 80,000 Milestone 
FxWirePro: EUR/AUD under pressure as key support gives way 
FxWirePro: EUR/CAD gains ground on prospects of resumed energy flows 
NZDJPY Bulls Charge Toward 95.00: Safe-Haven Exodus Drives Kiwi Rally 
FxWirePro: USD/CAD extends decline on broad dollar weakness 
FxWirePro:NZD/USD uptrend loses momentum but bullish setup remains 
FxWirePro: USD/ZAR edges lower ,investors remain on edge 
FxWirePro: USD/CAD recovers slightly but bearish outlook persists 
- The Norwegian Krone plunged to an over 1-week low, as crude oil prices slumped as new lockdown measures threaten demand recovery.
- Crude oil prices tumbled as new restrictions to stem a surge in COVID-19 infections increased uncertainty over the outlook for economic growth and a recovery in fuel demand.
- European countries are reviving curfews and lockdowns to try to contain the rise in new coronavirus cases.
- International benchmark Brent crude was trading 2.9 percent down at $42.20 per barrel by 1024 GMT, having hit a high of $43.54 on Friday, its highest since September 18. U.S. West Texas Intermediate was trading 3.01 percent lower at $39.85 a barrel, after rising as high as $41.44 on Friday, its highest since September 18.
-
Moreover, a surge in the greenback against a basket of currencies and downbeat economic data further weakened the bid tone around the Norwegian currency.
-
Norway's trade deficit widened sharply to NOK 8 billion in September from NOK 1.3 billion in the same month a year earlier, recording its largest trade deficit since June.
-
USD/NOK trades 1.2 percent higher at 9.3482, having touched a high of 9.3724 earlier, its highest since October 7.
- Immediate resistance is located at 9.3973, close above could take it till 9.4316.
- On the downside, support is around 9.1997 (55-EMA), break below could take it till 9.1788.
- News
- Economy
- Central Banks
- Investing
- Research
- Roundups
- Digital Currency
- Insights
- Technical Analysis
- Technology
- Business
- Law
- Health
- Nature
- Fintech
- Science
- Topic
- Opinions
- ©Econometrics LLC . All Rights Reserved.
FxWirePro: Norwegian Krone at 1-week trough as oil declines on demand recovery concerns
Thursday, October 15, 2020 10:35 AM UTC
Editor's Picks
- Market Data
Most Popular
