Currency Note Worldwide

Norwegian kroner boosted

By Smart Currency October 1st, 2014

  • The Norwegian kroner was a strong performer on Tuesday as it gained ground against all currencies except for the US dollar. This was due to the Norwegian central bank’s announcement that it would be a buyer of its currency next month and a seller of other currencies in order to adjust its sovereign-wealth fund.
  • On Tuesday we saw a further weakness for the Canadian dollar as both inflation and growth slowed down in Canada in the last few months. The Canadian dollar moved up to the 1.82 levels against the pound following zero growth in July, weaker than predicted forecasts of 0.2%. This worse-than-expected figure made way for lower growth in the third quarter, increasing the pressure on the Canadian dollar.
  • Today we see retail sales growth data released from Australia, which is forecast at 0.4% – the same figure as last month.

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