What are you watching in EUR/NOK and EUR/SEK?
The euro-Scandinavian crosses blend the ECB's path with oil and regional data, and their ranges are wide enough to be worth the spread. Few traders specialise here, so specialist knowledge is scarce.
Share:
- the levels or stories you're tracking
- how oil prices reach the krone
- the data that matters for these crosses
Background: commodity currencies for the oil channel.
Background: Commodity currencies explained: the Australian, New Zealand and Canadian dollars and the Norwegian krone
Why the currencies of big commodity exporters move with iron ore, dairy and oil prices, what each country actually exports, and when the link weakens.
What are commodity currencies?
Currencies of countries where commodity exports are a large share of trade, such as the Australian dollar (iron ore), the New Zealand dollar (dairy), the Canadian dollar (oil) and the Norwegian krone (oil and gas).
Why does the Australian dollar follow China?
Iron ore is Australia's largest export and much of it is sold to China, so Chinese demand and data affect Australia's export income and its currency.
Comments
Log in to join the discussion. Comments follow the community guidelines.
Log in to commentLoading comments…