Norwegian Krone Retreats To 5-day Low Against Euro
November 10 2015 - 12:07AM
RTTF2
The Norwegian krone trimmed its gains against the euro and fell
in the early European session on Tuesday.
Meanwhile, data from Statistics Norway showed that the consumer
price index rose 2.5 percent year-over-year in October, following a
2.1 percent climb in the previous month. Economists had expected
the inflation to increase to 2.3 percent. Month-on-month, consumer
prices climbed 0.4 percent in October, more than economists'
expectations for a 0.3 percent increase.
Producer Prices plunged 9.4 percent in October from a year ago,
following a 10.1 percent decline in September.
Against the euro, the krone fell to a 5-day low of 9.3417 from
an early high of 9.2817. At yesterday's close, the krone was
trading at 9.3055 against the euro.
If the krone extends its downtrend, it is likely to find support
around the 9.50 area.
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