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Data from Statistics Norway Makes Krone Weaker

August 30, 2013 at 11:49 by Vladimir Vyun

A fan of 50-krone notesThe Norwegian krone fell today as a set of negative reports was released today by Statistics Norway, making the nation’s currency less attractive to traders who prefer to avoid risky assets due to the poor market sentiment.

Norwegian retail sales dropped as much as 1.3 percent in July from June, when the decrease was by just 0.2 percent. Household consumption of goods slumped 2 percent last month from a month ago. The employment data looked not that bad, but it did not help the currency much.

USD/NOK rose from 6.0912 to 6.1139 as of 11:48 GMT today.

If you have any questions, comments, or opinions regarding the Norwegian Krone, feel free to post them using the commentary form below.

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