{"id":158201,"date":"2019-10-23T10:45:54","date_gmt":"2019-10-23T14:45:54","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=158201"},"modified":"2019-10-23T07:55:25","modified_gmt":"2019-10-23T11:55:25","slug":"usdnok-analysis-getting-ready-for-meeting-of-central-bank-of-norway","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/10\/usdnok-analysis-getting-ready-for-meeting-of-central-bank-of-norway\/","title":{"rendered":"USDNOK Analysis: Getting ready for meeting of Central Bank of Norway"},"content":{"rendered":"
October 23, 2019<\/div>
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By IFCMarkets<\/a><\/strong><\/p>\n

Getting ready for the meeting of the Central Bank of Norway<\/strong><\/p>\n

Norges Bank is expected to leave its interest rate unchanged at 1.5% at its next meeting on October 24, 2019. Will the USDNOK quotations<\/a> fall?<\/p><\/blockquote>\n

Moving down indicates strengthening of the Norwegian krone. Over the past 13 months, the Norwegian Central Bank has already raised the rate 4 times. It is practically the only one which did this, since the central banks of developed countries currently mainly reduce rates. Over the same 13 months, the Norwegian krone collapsed against the US dollar by almost 11% to an 18-year low. It is possible that the rate increase will help to strengthen.<\/p>\n

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

On the daily timeframe USDNOK: D1<\/b> approached the support line of the growing trend. Before opening a sell position, it must be broken down. Some technical analysis indicators formed a downward signal. A downward movement may form if the Central Bank of Norway rate and negative data in the USA are maintained.<\/p>\n