{"id":110649,"date":"2017-08-10T09:17:36","date_gmt":"2017-08-10T13:17:36","guid":{"rendered":"http:\/\/countingpips.com\/?p=110649"},"modified":"2017-08-10T07:18:20","modified_gmt":"2017-08-10T11:18:20","slug":"usdnok-forex-technical-analysis-norway-economy-lags-behind-in-growth","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/08\/usdnok-forex-technical-analysis-norway-economy-lags-behind-in-growth\/","title":{"rendered":"USDNOK: Forex Technical Analysis – Norway economy lags behind in growth"},"content":{"rendered":"
August 10, 2017<\/div>
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By IFCMarkets<\/a><\/p>\n

Norway economy lags behind in growth<\/strong><\/p>\n

The Norway economic indicators look weaker than those in Europe and the US. Will the Norwegian krone <\/a> weaken?<\/p>\n

The Norway economy increased by 0.2% in annual terms according to the Q2 results. In the Euro-zone the GDP growth was significantly higher and amounted to 2.1%, in the US \u2013 to 2.6%. At the same time, the July inflation in Norway was relatively high and reached 1.9% in annual terms. In the US it was lower and amounted to 1.6%, in the Eurozone \u2013 to 1.3%. The Norway Central Bank rate is 0.5%, which is less than in the US, but more than in the Eurozone. At the end of July, 2017, the Norwegian krone strengthened against the US dollar and the USDNOK reached a 2-year low. A small correction is possible due to the difference in economic indicators.<\/p>\n

\"USDNOK\"<\/p>\n

On the daily timeframe, USDNOK: D1<\/b> remains in the downtrend. However, its growth has slowed down and a number of technical analysis indicators formed bullish signals. The further price growth is possible in case of the worsening of the Norwegian economic state and positive economic data in the US.<\/p>\n