The cross adds to yesterday’s gains and approaches 9.80. Norway Consumer Confidence ticked lower in Q1. NOK stays vigilant on Brent crude performance. The Norwegian Krone keeps depreciating this week and is now lifting EUR/NOK to the vicinity of the 9.8000 handle, fresh 3-day peaks. EUR/NOK looks to oil The cross is up for the second consecutive session on Tuesday following the continuation of the offered bias around the Scandinavian currency. In fact, NOK continues to grind lower after last week’s tops in the 9.7000 region vs. the shared currency, all amidst the recent moderate drop in prices of the barrel of the European reference Brent crude. It is worth recalling that crude oil prices dropped at the beginning of the week after President Trump criticized the OPEC for favouring higher crude oil prices. In the domestic docket, Norway’s Consumer Confidence dropped to 12.70 during the first quarter vs. the previous 14.20, ahead the publication of the manufacturing PMI and unemployment figures on Thursday and Friday. in Euroland, the German GfK Consumer Climate remained at 10.8 for the month of March. What to look for around NOK The mood around the risk complex and Brent-dynamics continue to be the main drivers for the Norwegian currency for the time being. In the broader picture, fundamentals in the Nordic economy remain strong and the Norges Bank is set to hike rates twice this year, with the next raise likely to be in March. This view has been reinforced by the December Regional Network Survey, which stressed the growth outlook for the economy remains strong. In addition, the first quarter is usually NOK-positive reinforced by tighter conditions in structural liquidity. EUR/NOK significant levels As of writing the cross is gaining 0.25% at 9.7768 and a break above 9.7913 (high Feb.21) would aim for 9.8411 (high Feb.11) and then 10.0572 (2018 high Dec.27). On the flip side, the next down barrier emerges at 9.7472 (21-day SMA) seconded by 9.7073 (low Feb.20) and finally 9.6891 (100-day SMA). FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Bitcoin price prediction: capped by $3,800 so far – Confluence Detector FX Street 4 years The cross adds to yesterday's gains and approaches 9.80. Norway Consumer Confidence ticked lower in Q1. NOK stays vigilant on Brent crude performance. The Norwegian Krone keeps depreciating this week and is now lifting EUR/NOK to the vicinity of the 9.8000 handle, fresh 3-day peaks. EUR/NOK looks to oil The cross is up for the second consecutive session on Tuesday following the continuation of the offered bias around the Scandinavian currency. In fact, NOK continues to grind lower after last week's tops in the 9.7000 region vs. the shared currency, all amidst the recent moderate drop in prices of the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.