About EUR/NOK
EUR/NOK is the principal way the Norwegian krone is quoted in Europe, and it is one of the more volatile crosses involving a developed-market currency. Norway is a large exporter of oil and natural gas, and the krone has a long-standing relationship with energy prices. It is also a relatively small and less liquid currency, which means moves can be sharper than the underlying news appears to warrant, particularly outside European trading hours.
What Moves EUR/NOK?
Oil and gas prices
Norway’s export earnings are concentrated in energy. Crude and European gas prices feed through to the krone, though the relationship is not mechanical and has weakened at times.
Norges Bank
Norway’s central bank publishes an unusually explicit rate path, which makes its guidance particularly consequential for the krone.
Liquidity
The krone is thinly traded relative to the euro. Moves can extend further than expected when liquidity is poor, and this is a recurring feature rather than an exception.
European risk sentiment
The krone tends to weaken in risk-off conditions, adding to any energy-driven move in the same direction.
Trading EUR/NOK
Prices on this page come from our own market feed. The chart, the 52-week range and the performance figures are measured from our own daily closes, and any figure our history cannot support is withheld rather than estimated. Nothing here is a recommendation or a forecast β see our methodology for how each figure is produced.
