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Norwegian Krone Rallies with Accelerating Inflation, Retreats

The Norwegian krone rallied today as inflation accelerated more than analysts have expected, reducing incentive for the central bank to cut interest rates. The currency retreated and trades below the opening level as of now.

Inflation in Norway Slows, Leading to Krone’s Decline

The Norwegian krone declined today as slowing growth of consumer prices fueled speculations that the central bank will perform an interest rate cut to boost inflation.

NOK Drops as Olsen Says Exchange Rate Too High

The Norwegian krone weakened today as Norges Bank Governor Oeystein Olsen complained about the high exchange rate and said that the strong currency can prevent an interest rate hike.

Norges Bank Sees No Interest Rate Increase Until 2014

The Norwegian krone weakened today after the central bank left interest rates stable and signaled that no change to the monetary policy is expected until the next year.

Olsen Speaks About Interest Rate Cut, Krone Down

The Norwegian krone fell today as the head of the central bank indicated that he may ease monetary policy as a measure to bring inflation, which was slowing due to the currency’s strength, closer to the bank’s target.

Norwegian Policy Makers Think Krone Too Strong

The Norwegian krone fell a little against the US dollar today and may retreat even further on speculations that policy makers will try to push the exchange rate down. The currency remained firm against the euro.

Norwegian Krone Holds Ground Even as Manufacturing Struggles

Sweden was not the only country with declining manufacturing as countries all over Europe suffer from the crisis. Norway’s manufacturing also struggled, but the nation’s currency managed to hold ground, unlike the Swedish one.

Krone Rises as Norges Bank Does Not Plan to Buy Foreign Currency

The Norwegian krone climbed today as Norway’s central bank indicated that it is not going to buy foreign currency for the government fund. On the negative side, unemployment growth stalled in August.

Positive Fundamentals in Norway Benefit Krone

The Norwegian krone advanced today after the set of good macroeconomic reports from the country added to the attractiveness of the currency. The attractiveness that was boosted further by the positive sentiment on the Forex market.

Canadian Dollar Drops on Falling Prices for Crude & Corporate Earnings

The Canadian dollar weakened today as prices for crude oil declined, while the market sentiment was not supportive for riskier currencies. Against the euro, the Canadian currency was rising.

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