{"id":5030,"date":"2009-12-01T09:45:05","date_gmt":"2009-12-01T14:45:05","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=5030"},"modified":"2009-12-01T09:45:05","modified_gmt":"2009-12-01T14:45:05","slug":"scandinavian-kroner-declines-amid-dubai-debt-concerns","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2009\/12\/01\/scandinavian-kroner-declines-amid-dubai-debt-concerns\/","title":{"rendered":"Scandinavian Kroner Declines Amid Dubai Debt Concerns"},"content":{"rendered":"<p><strong>By Anton Eljwizat<\/strong> &#8211; Scandinavian markets were greatly affected by global events this past week. Swedish Krona headed for its second monthly depreciation versus the EUR, falling 0.5% to 10.4946 per EUR yesterday after Dubai\u2019s government said Dubai World\u2019s debt is not yet assured. The Krona also dropped 0.5% today to 6.9987 per Dollar.<\/p>\n<p>Sweden\u2019s economic activity declined by 5% in the 3rd quarter as business inventories exhibited a larger than expected drop. The result also weighed on the currency against the Dollar and EUR. The country\u2019s gross domestic product however, grew by 0.2%. Overall, Sweden\u2019s economy is now starting to stabilize.<\/p>\n<p>Norway\u2019s Krone also fell on concerns over Dubai\u2019s plan to postpone debt repayments, posting its first monthly decline versus the EUR since June. The Krone fell 1.3% against the EUR in November and 0.6% against the Dollar in the month.<\/p>\n<p><strong>Technical analysis<\/strong><\/p>\n<p>\u2022\tThe chart below is the daily chart of the EUR\/NOK currency pair.<\/p>\n<p>\u2022\tThe indicators used are the Slow Stochastic, MACD\/OsMA, and RSI.<\/p>\n<p>\u2022\tPoint 1: The Slow Stochastic indicates a bearish cross, signaling that the next move may be in a downward direction.<\/p>\n<p>\u2022\tPoint 2: The RSI signals that the pair sits near the upper border, suggesting a downward correction may be imminent.<\/p>\n<p>\u2022 Point 3: The MACD indicates an impending bearish cross, which may signal a downward movement is going to occur in the near future.<\/p>\n<p>EUR\/NOK Daily Chart<\/p>\n<p><a href=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2009\/12\/EUR-NOK-1-12.JPG\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2009\/12\/EUR-NOK-1-12.JPG\" alt=\"\" width=\"448\" height=\"524\" \/><\/a><\/p>\n<p><em><strong>Forex Market Analysis<\/strong><\/em> provided by\u00a0<a href=\"http:\/\/www.forexyard.com\/?zone_id=1398\" target=\"_blank\"><strong>Forex Yard.<\/strong><\/a><\/p>\n<p>\u00a9 2006 by FxYard Ltd<\/p>\n<p>Disclaimer: Trading Foreign Exchange carries a high level of risk and may not be suitable for all investors. There is a possibility that you could sustain a loss of all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with Foreign Exchange trading.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Anton Eljwizat &#8211; Scandinavian markets were greatly affected by global events this past week. Swedish Krona headed for its second monthly depreciation versus the EUR, falling 0.5% to 10.4946 per EUR yesterday after Dubai\u2019s government said Dubai World\u2019s debt is not yet assured. The Krona also dropped 0.5% today to 6.9987 per Dollar. Sweden\u2019s &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2009\/12\/01\/scandinavian-kroner-declines-amid-dubai-debt-concerns\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Scandinavian Kroner Declines Amid Dubai Debt Concerns&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-5030","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/5030","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=5030"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/5030\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=5030"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=5030"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=5030"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}