12 Jun 2015
EUR/NOK tanking on oil data
FXStreet (Edinburgh) - The Norwegian krone is sharply higher vs. the euro on Friday, dragging EUR/NOK to fresh lows in the 8.7200 area.
EUR/NOK weaker on oil-gas report
NOK has gathered further steam today after total investments in the Norwegian oil and gas industry for the next year are 1.4% higher than previous estimates, at almost NOK 185 billion. In addition, estimates for the current year has been revised higher by 0.6% to NOK 190.1 billion.
The krone appreciated to 2-day highs vs. its European peer to the 8.7190 level and is currently hovering over session tops vs. its Nordic counterpart, the Swedish krona, just below 1.06.
EUR/NOK levels to consider
The cross is now losing 1.010% at 8.7289 with the next support at 8.7190 (low Jun.12) followed by 8.6929 (low Jun.10) and finally 8.6784 (low Jun.3). On the flip side, a breakout of 8.8677 (high Jun.9) would expose 8.8690 (high Jun.5) and then 8.9317 (high May 19).
EUR/NOK weaker on oil-gas report
NOK has gathered further steam today after total investments in the Norwegian oil and gas industry for the next year are 1.4% higher than previous estimates, at almost NOK 185 billion. In addition, estimates for the current year has been revised higher by 0.6% to NOK 190.1 billion.
The krone appreciated to 2-day highs vs. its European peer to the 8.7190 level and is currently hovering over session tops vs. its Nordic counterpart, the Swedish krona, just below 1.06.
EUR/NOK levels to consider
The cross is now losing 1.010% at 8.7289 with the next support at 8.7190 (low Jun.12) followed by 8.6929 (low Jun.10) and finally 8.6784 (low Jun.3). On the flip side, a breakout of 8.8677 (high Jun.9) would expose 8.8690 (high Jun.5) and then 8.9317 (high May 19).