Scandinavian currencies watch: SEK and NOK
The krona and krone trade on oil, European demand and their central banks' paths. They're thin, interesting and rarely discussed — which is the point of this thread.
Post:
- which Scandinavian pair you follow and why
- how oil is feeding NOK right now
- the Riksbank or Norges Bank signal you're tracking
Background: oil and CAD covers the oil link that NOK shares.
Background: Oil and currencies: why crude prices move the Canadian dollar
Crude oil links energy markets to currencies through trade, inflation and interest rates. How that works for the Canadian dollar, and why the link isn't fixed.
Why does oil affect the Canadian dollar?
Crude oil is one of Canada's largest exports. Higher prices increase export earnings and demand for Canadian dollars, and they also affect inflation and interest rate expectations.
Does USD/CAD go down when oil goes up?
Often, because a stronger Canadian dollar pushes USD/CAD lower. But the relationship isn't fixed: interest rates, trade relations and risk sentiment can outweigh oil.
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