EUR/NOK in the descent, Brent climb

FXStreet – After the storage report from the U.S. Department of energy, has taken the Norwegian crown travel. Then fell the currency pair EUR/NOK on a new Multi-day Low of around 9,3500.

EUR/NOK is losing ground because of Brent gains

The buying interest around the NOK put on it as a reaction to the strong price premiums in the North sea grade Brent with a shovel. So the price of Oil jumped back above the psychologically important mark of 50 dollars, after the United States reported a larger than expected stock decline. The US energy administration (EIA) reported a decline in the 05. May to over five million barrels.

The Norwegian Krone has recovered from their losses from the early trade, after the inflation figures in the Nordic economy were surprised by the reporting month of April, the market participant negative. Consumer prices increased on the year by 2.2 percent. In the month, compared to an increase of 0.2 percent was recorded. Both readings fell short of expectations.

The currency pair is now under the since Monday, continuing a sideways movement at around 9,4500 like.

EIA: crude oil inventories to decline by 5.2 million barrels

EUR/NOK – Important course brands

The currency pair is listed last on 9,3719 and to 0.80 per cent in the Minus. The next supports lie at 9,3263 (50% Fibo), 9,3147 (20-day line) and 9,2913 (Deep 28. April). Technical Resistances are at 9,4822 (High-08. May), 9,5778 (High-05. May 2017) and 9,5794 (High 24. To find June 2016).

** FXStreet News Editorial, FXStreet**

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