Currency pair EURNOK depicts the relation of a single European currency to the Norwegian krone. Euro serves as the base currency, and national currency of Norway — quoted. The quotation of the euro / Norwegian krone shows how many units of the euro it is possible to purchase for one Norwegian krone. This financial instrument shows the greatest activity during the European trading session. Stability of EU countries and Norway, and also good predictability of EURNOK provides this currency pair especially popularity among experienced players of the exchange market.
The economic condition of the Eurozone and Norway, in particular, has an impact on price maneuvers of the trading symbol EURNOK. Key characteristics of Norway economy is the activity of industrial and agricultural sector. The Norwegian krone is commodity currency, thanks to that Norway is included in the three of world leaders in oil and gas production and export.
Export of energy resources, production of oil drilling platforms, trading of minerals, and also production and conversion of seafood are one of the key factors guaranteeing to Norway one of the highest levels of economic development. Predicting the movement of a currency pair of EURNOK it is necessary to pay attention at the economic and geopolitical indicators of Norway and the EU and also in a situation in the oil market.