• The Norwegian Krone rose, hovering towards a 2-week peak hit in the prior session following the release of upbeat manufacturing production and industrial production figures.
   
• Norway's industrial production increased 8.3 percent year-on-year in August, the most since September 2017, accelerating from a 7.4 percent rise in the previous month. In addition, manufacturing output on annual basis contracted 2.5 percent in August compared to a drop of 6.1 percent in the prior month. 
   
• Addtionally, weakness in the greenback against a bakset of currencies further boosted the Norwegian currency. 
   
• The dollar index declined as U.S. President Donald Trump’s surprise decision to call off stimulus talks until after the November 3 presidential election heightened downside risks for the U.S. economy. 
   
• However, a slump in the oil prices limited the upside in the Norwegian Krone 
   
• Crude oil prices plunged on a larger-than-expected increase in U.S. crude inventories.
   
• Data from the American Petroleum Institute showed U.S. oil stockpiles rose by 951,000 barrels last week.
   
• USD/NOK trades 0.6 percent lower at 9.2994, having touched a low of 9.1788 the day before, its lowest since September 21.
   
• On Tuesday, the pair fell below 55-EMA but retraced to close nearly 1.65 percent higher at 9.3564.
   
• Immediate resistance is located at 9.3973, close above could take it till 9.4316.
   
• On the downside, support is around 9.2639, break below could take it till 9.2462 (20-EMA).