FxWirePro: Norwegian Krone off 3-week peak on soft inflation figures
The Norwegian Krone retreated from a 3-week peak following soft inflation data . Norway's annual inflation rate declined to 0.7 percent in March from 0.9 percent in the previous month, below market expectations of 0.8 pe…
The Norwegian Krone retreated from a 3-week peak following soft inflation data .
Norway's annual inflation rate declined to 0.7 percent in March from 0.9 percent in the previous month, below market expectations of 0.8 percent, its lowest rate since September 2012,
Separate data showed producer prices tumbled by 12.6 percent year-on-year in March, following a 7.4 percent drop in the previous month, its steepest decline since last October.
USD/NOK trades 0.3 percent higher at 10.2964, having touched a low of 10.1243 on Tuesday, its lowest March 16.
Immediate resistance is located at 10.4014 (21-EMA), and close above could take it till 10.4557 (10-DMA).
On the downside, support is around 10.1570, break below could take it till 10.1240.
