Currency pair USDNOK reflects interrelation of the American dollar and Norwegian krone. In this trading instrument the American dollar acts as the base currency, and Norwegian krone — quoted. Economic indicators of the USA and a rate of exotic pair USDDKK have an impact on quotes of this financial instrument. Using this trading instrument in the Forex market, it will be useful for a trader to pay attention to economic indicators of the United States. High activity of the biddings on this trading instrument is observed in working hours of the European and North American exchanges.
Economic indicators of Norway have an impact on a currency pair USDNOK. This country is the third in the world in production and export of gas and oil. In addition, the cost of Norwegian krone is dependent on a world oil price. For this reason, USDNOK pair can be called commodity.
Currency pair USDNOK isn't very popular among traders, but is attractive to long-term investors. The Norwegian krone is considered rather profitable currency for investment as its rate promptly grows. In the Forex market, the currency pair can bring to the traders good money as USDNOK shows the high level of volatility.