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With elections out of the way, the Norwegian Krone looks at oil and the Norges Bank
USD/NOK seems to have reverted to its normal self, which is trading inversely to oil and a hawkish central bank
Crude oil driving USD/CAD and USD/NOK
Both USD/CAD and USD/NOK currently have a high negative correlation with USOIL
Norges Bank preview: “Normalization” imminent, implications for USD/NOK
The Norges Bank is poised to fire a potential “shot heard ‘round the world” this week.
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Currency Pair of the Week: USD/NOK
With 2 central bank meetings this week, there are potential opportunities for a good deal of 2-way volatility in USD/NOK
OPEC+ cut strengthening crude and correlated currencies: WTI, USD/CAD, USD/NOK
Whichever way Crude Oil moves, it will affect both USD/CAD and USD/NOK!
Norwegian Krone not Playing Fair
If USD/NOK rolls over, it will have proved correct and the move lower in crude was a bit overdone!
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