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About
History
Why trade?
About
History
Why trade?
The EUR/NOK currency pair is composed of the Euro, the official currency of countries that form the Eurozone and the Norwegian Krone, which is used in Norway. This currency pair is a very interesting one to watch, as it can be heavily affected by geopolitical events, supply and demand of the two currencies, oil prices and economic data from both Norway and the Eurozone.
By nature, the Norwegian Krone is highly sensitive to changes in oil prices. This is due to the fact that Norway has a large oil and gas export industry, so when crude oil prices increase or decrease significantly, it will have an effect on the value of the krone. As such, any news related to crude oil production or other geopolitical events related to oil can cause the EUR/NOK currency pair to fluctuate.
The price history of the EUR/NOK currency pair over the past year has seen some impressive highs and lows. The highest level reached in the last 5 years was 12.5 on Mar 20th, 2020, while the lowest was 9.43 on Jun 22nd, 2018. These levels represent a 17% difference between peak and trough points.
In the last 12 months, the currency pair has seen an average range of 11.6 to 9.6, a difference of 17.24%. Knowing this price history can be a useful tool for traders as they plan their currency strategies and assess potential risks. Investors should also keep an eye on news developments related to both the European Union and Norway that may affect the EUR/NOK exchange rate.
he EUR/NOK currency pair is a great option for traders looking to diversify their investments and benefit from the high volatility of the Norwegian Krone. The European Central Bank (ECB) and Norges Bank, which sets monetary policy for Norway, are both influential in setting the direction of the Euro and Norwegian Krone, respectively. The Euro is a large and stable currency, while the Norwegian Krone is considered to be more volatile than other major currencies due to its strong link with commodities prices.
Traders looking for further diversification options should consider trading the USD/NOK or EUR/USD currency pairs. These two currency pairs provide exposure to both the Euro and the US dollar, with the USD/NOK pairing also benefiting from some of the underlying volatility of the Norwegian Krone.
| Swap long | [[ data.swapLong ]] points |
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| Swap short | [[ data.swapShort ]] points |
| Spread min | [[ data.stats.minSpread ]] |
| Spread avg | [[ data.stats.avgSpread ]] |
| Min contract size | [[ data.minVolume ]] |
| Min step size | [[ data.stepVolume ]] |
| Commission and Swap | Commission and Swap |
| Leverage | Leverage |
| Trading Hours | Trading Hours |
* The spreads provided are a reflection of the time-weighted average. Though Skilling attempts to provide competitive spreads during all trading hours, clients should note that these may vary and are susceptible to underlying market conditions. The above is provided for indicative purposes only. Clients are advised to check important news announcements on our Economic Calendar, which may result in the widening of spreads, amongst other instances.
The above spreads are applicable under normal trading conditions. Skilling has the right to amend the above spreads according to market conditions as per the 'Terms and Conditions'.
Trade [[data.name]] with Skilling
Hassle-free, with flexible trade sizes, and super low spreads!
- Spreads starting at 0.2!
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FAQs
What factors influence the EURNOK exchange rate?
The EURNOK exchange rate is influenced by both macro and microeconomic factors, such as global economic trends, political developments, market sentiment, and supply/demand dynamics. Global economic trends affect EURNOK volatility due to Norway's strong reliance on oil exports.
Changes in price of oil related commodities can significantly impact the Norwegian Krone (NOK) against the Euro (EUR). Political developments are also a major factor in EURNOK exchange rate fluctuations, as political instability or policy changes can cause investors to shift their portfolios and thus affect the currency exchange rate. Market sentiment is another important factor that affects the EURNOK exchange rate, as traders react to news events and speculation on future prices.
What is the best time to trade EURNOK?
EUR/NOK is a volatile currency pair, so there’s no one-size-fits-all answer to the question of when it’s best to trade. However, some general guidelines can be helpful for traders looking to maximize their profits. For instance, volatility tends to be higher during European hours, followed by North American trading hours and then the Asian session.
So traders may find it advantageous to focus their trades during peak trading times. Also, watching for major economic announcements related to the Eurozone and Norway can also be beneficial, as news-related events are likely to move the currency pair significantly. Finally, traders should always consider risk management when deciding which currencies and time frames they’d like to trade in.
What indicators can traders use when trading EUR/NOK?
When trading EUR/NOK, it's important to pay attention to a few key indicators, such as the Relative Strength Index (RSI), Moving Average Convergence Divergence (MACD), and the Bollinger Bands. The RSI is used to measure oversold and overbought conditions in the market and can be useful for finding entry points.
The MACD gives you insight into market momentum and can help you identify trends. Finally, the Bollinger Bands measure volatility in the market, helping traders to identify potential opportunities or risks. By keeping an eye on these indicators, you can better inform your trading decisions with EUR/NOK.
Why Trade [[data.name]]
Make the most of price fluctuations - no matter what direction the price swings and with low capital investment.
Forex
Capitalise on rising prices (go long)
Capitalise on falling prices (go short)
Trade with leverage
Trade on volatility
Enjoy huge liquidity
Manage risk with in-platform tools
Ability to set take profit and stop loss levels