Norwegian Krone (NOK)
The Norwegian Krone strengthened in the past month as investor concerns about the global economy have eased. With market optimism and higher commodity prices, the NOK found support. The Krone has also been supported by the Norges Bank’s decision to tighten policy more to tackle elevated inflation. This is why we highlight Norway’s interest rate decision on Thursday during the European session. Norwegian inflation in July came in line with Norges Bank’s expectations. Economists expect the Krone to strengthen if upcoming data is upbeat.