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GBP NOK Slumps on Fresh Oil Price Rally

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Date: May 17th, 2017.

A slight narrowing of Norway’s April trade surplus was not enough to knock back the Krone, which also benefitted as market risk sentiment picked up at the start of the week. This positive outlook was built on by a sharp improvement in the second quarter consumer confidence index and bullish domestic growth data. Altogether the [...]

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The Pound to Norwegian Krone exchange rate managed to recover its recent losses as the end of the week approached. Sterling rose by 0.4% against the Norwegian Krone on Thursday, following the release of Confederation of British Industry (CBI) retail figures. Forecasts had been for a slowdown in reported retail sales from 9 points to [...]

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GBP NOK Exchange Rate Sheds Gains

Posted by:
Date: March 22nd, 2017.

The Pound has dropped by -0.4% against the Norwegian Krone as GBP began to give up the gains recorded following the news that UK inflation had risen from 1.8% to 2.3% in February. Krone movement recently has largely been dictated by the price of Brent crude oil, which has continued tumbling since the start of March. [...]

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Confidence in the health of the Norwegian economy was boosted as a result of January’s industrial production figures, which surprised significantly to the upside on both the month and the year. Of particular note was the 3.4% rise on the month, as this more than reversed December’s -2.7% slump. As a result the Norwegian Krone [...]

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The Pound to Norwegian Krone exchange rate trended below the week’s opening levels on Wednesday. While Brexit hopes increased GBP demand, NOK was also bolstered by strong Norwegian data. GBP/NOK trended at around 10.40. Sterling was sold off earlier in the week as March approached and Brexit jitters worsened, with the reality sinking in that [...]

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After a turbulent week of UK inflation and earnings data, the Pound could be in line for another volatile week. In political news, the House of Lords is set to start debating the Article 50 bill, while UK domestic data is due to cover the speed of GDP growth. The biggest influence on Sterling last [...]

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The Pound has fallen against the Norwegian Krone at the start of trading this week, owing to investors being unnerved by Monday’s seemingly-fruitless Brexit talks. The Krone’s ascent against the Pound comes mainly due to Sterling’s weakness, given that Norwegian data so far this week has been fairly uninspiring. Last week, the Pound Norwegian Krone [...]

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Confidence in riskier assets has been limited over the course of the week, with markets in a jittery mood thanks to the uncertainty surrounding the new US administration. The increased protectionist rhetoric and fears of potential trade wars led investors to pile back into safe-haven assets, leaving the Krone relatively lacking in support. However, the [...]

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The Pound to Norwegian Krone exchange rate plunged on Monday as the weekend’s Brexit news hit Sterling. However, GBP/NOK’s losses were limited by news that oil prices had slipped on concerns of higher oil production from non OPEC oil producers. GBP/NOK trended at around 10.40 at the time of writing. Sterling was hit by a [...]

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The GBP NOK exchange rate has performed poorly during the first week of 2017, not least because of the unexpected resignation of the UK’s Ambassador to the EU. Norwegian news has been comparatively thin on the ground, but this hasn’t prevented the buoyant NOK from having a strong start against the Pound on the back [...]

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