• The Norwegian Krone declined, hoveing towards a 1-1/2 week trough hit in the prior session, weighed down by a plunge in oil prices. 
   
• Crude oil prices declined, hitting their lowest since July, after Saudi Arabia made the deepest monthly price cuts for supply to Asia in five months. 
   
• Oil exporter Saudi Arabia cut the October official selling price for Arab Light crude it sells to Asia by the biggest margin since May. 
   
• International benchmark Brent crude was trading 0.7 percent down at $42.04 per barrel by 0931 GMT, having hit a low of $41.54 earlier, its lowest since July 30. U.S. West Texas Intermediate was trading 0.8 percent lower at $39.10 a barrel, after falling as low as $38.58 earlier, its lowest since July 10.
   
• Investors seem to have ignored Norway's upbeat economic data showing industrial production rose 7.4 percent year-on-year in July, the most since March, surging from a 3.1 percent rise in the previous month. 
   
• Meanwhile separate data showed Norway's manufacturing production decreased 6.10 percent in July over the same month in the previous year.
   
• USD/NOK trades 0.4 percent higher at 8.9330, having touched a high of 9.0044 the prior session, its highest since August 25.
   
• On Friday, the pair rose to an over 1-week peak, but retraced to close 0.1 percent lower at 8.8947. 
   
• Immediate resistance is located at 8.9789, close above could take it till 9.0022.
   
• On the downside, support is around 8.8582 (10-DMA), break below could take it till 8.8303.