7 votes

Norway’s krone hit its lowest level since the 2008 financial crisis as global trade tensions drive down the price of oil

6 comments

  1. [3]
    KapteinB
    Link
    Open in a private window if you need to get around the paywall. I have no idea what that means. Anyone?

    Open in a private window if you need to get around the paywall.

    “There’s basically thin air above technically, which leaves NOK at risk ahead of the important CPI number on Friday.”

    I have no idea what that means. Anyone?

    3 votes
    1. [2]
      RapidEyeMovement
      Link Parent
      CPI - Consumer Price Index Release schedule NOK is short for the Norwegian kroner, used in financial news a lot. This articles position is that Friday CPI numbers will greatly affect the...

      CPI - Consumer Price Index
      Release schedule

      NOK is short for the Norwegian kroner, used in financial news a lot.

      This articles position is that Friday CPI numbers will greatly affect the price/strength of the kroner relative to the Euro/ US dollar.

      basically thin air above technically

      What they are saying here is that because the kroner has historical never been this low in price relative to other currencies, that there is not a good guide it's future price, so shit could get kray.

      Basic fear stuff that the financial media spouts

      2 votes
  2. [3]
    vakieh
    Link
    As someone taking a trip there shortly... sorry my Nordic brethren, but this is good for bitcoin my holiday budget. Interesting that tension drove oil prices down though... sounds a little counter...

    As someone taking a trip there shortly... sorry my Nordic brethren, but this is good for bitcoin my holiday budget.

    Interesting that tension drove oil prices down though... sounds a little counter intuitive when war makes oil prices shoot through the roof.

    1 vote
    1. Loire
      Link Parent
      War in the middle east makes oil prices sky rocket due to impeding the movement of middle eastern oil to market. Supply goes down, price goes up. A trade war drives prices doen bevause it affects...

      War in the middle east makes oil prices sky rocket due to impeding the movement of middle eastern oil to market. Supply goes down, price goes up.

      A trade war drives prices doen bevause it affects the economy. Economy goes down, so does oil consumption by industry. Supply goes up, price goes down.

      2 votes
    2. chembliss
      Link Parent
      Oil prices are falling down because there's uncertainty that the demand of energy will meet former expectations, as the deepening of the trade war could bring a slowing down of economic growth. On...

      Oil prices are falling down because there's uncertainty that the demand of energy will meet former expectations, as the deepening of the trade war could bring a slowing down of economic growth. On the other hand, in (actual) war times, the demand for energy, specially fossil fuels, tends to strongly rise, and thus the price of oil rises too.

      2 votes