EUR/NOK stays around 9.7000, near session lows

NOK picks up pace following the rally in crude oil.
The cross drops and test new multi-day lows around 9.6800.
Norway’s manufacturing PMI came in a tad above estimates.

Pablo Piovano FXStreet

The Norwegian Krone is picking up further pace today and keeps EUR/NOK under downside pressure in sub-9.7000 levels, or multi-day lows.

EUR/NOK weaker on oil gains

The cross came under renewed and strong selling pressure at the beginning of the week, following the rest of the risk-associated assets as well as the oil-related currencies.

In fact, NOK appreciates to fresh tops vs. the single currency following a sharp raise in prices of the European reference Brent crude, which managed to retake the $61.00 mark and above per barrel in response to alleviated US-China trade concerns.

In addition, although on a lesser degree, NOK is deriving some extra support from November’s manufacturing PMI, which surpassed estimates at 56.1.

All the attention now should be on the upcoming OPEC+ meeting on December 6-7 in Vienna, where the cartel could announce fresh oil output cuts.

EUR/NOK significant levels

As of writing the cross is down 0.29% at 9.7017 facing the next support at 9.6743 (low Dec.3) seconded by 9.6537 (21-day SMA) and then 9.5006 (low Nov.8). On the upside, a break above 9.7713 (high Nov.21) would aim for 9.7806 (high Aug.28) and finally 9.8079 (high Sep.7).

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

EUR/USD softens below 1.1800 on Fed hawkish remarks

The EUR/USD pair edges lower to around 1.1775 during the early Asian session on Wednesday, pressured by a renewed US Dollar demand. Traders await the US President Donald Trump's State of the Union address later on Wednesday for clarity on fiscal policies.

GBP/USD regains 1.3500 and above

GBP/USD extends its advance for the third day in a row on Tuesday, this time retesting the area beyond the 1.3500 hurdle. Cable’s uptick comes despite decent gains in the Greenback and the dovish message from the BoE’s Bailey at the UK Parliament.

Gold stays firm above $5,150 as Trump's delivers State of the Union speech

Gold finds fresh demand and regains the $5,150 level following the previous day's pullback from the monthly peak as traders assess Trump's State of the Union address. Trade-related uncertainties and geopolitical risks seem to act as a tailwind for the safe-haven bullion.

Hyperliquid registers mild gains following CoinShares' ETP launch

Hyperliquid registered a 3% gain on Tuesday after CoinShares announced the launch of its Physical Hyperliquid Staking exchange-traded product, offering investors exposure to the token's price and staking yields.

The Citrini report: How a debatable AI narrative can shake Wall Street

That AI-related headline alone was enough to rattle investors.US stocks slid sharply on Monday after a widely circulated Citrini Research memo outlined a hypothetical “2028 Global Intelligence Crisis”, warning that rapid AI adoption could push US unemployment into double digits as early as by mid-2028.

XRP pressured by weak ETF flows and declining retail interest

Ripple (XRP) is edging lower, trading above its intraday low of $1.32 at the time of writing on Tuesday. The decline from its weekly opening of $1.39 reflects heightened volatility in the broader cryptocurrency market, accentuated by tariff-triggered uncertainty.