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Wholesale gas prices have surged this year. This article looks at markets to trade amid the energy crisis. Smaller energy companies are collapsing, for the big players in the UK energy market this appears to be an opportunity. GBP/NOK has tumbled sharply as Norwegian gas imports surpass the UK's domestic production.
USD/NOK seems to have reverted to its normal self, which is trading inversely to oil and a hawkish central bank
Both USD/CAD and USD/NOK currently have a high negative correlation with USOIL
The Norges Bank is poised to fire a potential “shot heard ‘round the world” this week.
With 2 central bank meetings this week, there are potential opportunities for a good deal of 2-way volatility in USD/NOK
Whichever way Crude Oil moves, it will affect both USD/CAD and USD/NOK!
If USD/NOK rolls over, it will have proved correct and the move lower in crude was a bit overdone!
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