empty
InstaForex Loprais Team - Official participant of the Dakar rally
InstaForex Loprais Team - Official participant of the Dakar rally
This section is designed for those who are just starting their trading journey. InstaForex educational and analytical materials will meet your training needs. Our experts' recommendations will make your first steps to trading success simple and clear.
Start as Beginner
How to start trading
Useful information
Training and recordings
InstaForex innovative services are an essential element of productive investment. We strive to provide our clients with advanced technical capabilities and make their trading routine comfortable as we are recognized as the best broker in this regard.
Become Investor
PAMM System
ForexCopy System
Passive investments
Partnership with InstaForex is beneficial and top-tier. Join our affiliate programs and enjoy bonuses, partner rewards, and the possibility to travel with the team of the world-renowned brand.
Become Partner
Main Page
Partner Area
Advantages for Affiliates
Registration
This section contains the most lucrative offers from InstaForex. Receive bonuses when topping up an account, compete with other traders, and get real prizes even when trading in a demo account.
All Promo Campaigns
Bonuses
Contests
Events
Holidays with InstaForex are not only pleasant but also useful. We offer a one-stop portal, numerous forums, and corporate blogs, where traders can exchange experiences and become successfully integrated into the Forex community.
Full details
Forums
We are in social networks
Forex humour
Forex Portal
InstaForex is an international brand created in 2007. The company provides services for online FX trading and is recognized as one of the world's leading brokers. We have won the trust of more than 7,000,000 retail traders, who have already appreciated our reliability and focus on innovations.
Learn More
History
Why Choose Us
InstaSport
Regulation
Company News
Awards
InstaForex Stars
InstaForex Offline
Headquarters
Key documents
Social Responsibility
19.11.2020 11:31 AM
USD/NOK: Norwegian krone's growth will succeed
Open trading account Open demo account

This image is no longer relevant

A lot of investors are turning to Scandinavian currencies, when most countries were covered by the second wave of the COVID-19. One of Scandinavian currencies is the Norwegian krone, which has been unnoticed for a long time.

Deutsche Bank's currency strategists believe that there is a high possibility that NOK will grow in the long-term. This is supported by the country's stable economy and the ability to control the spread of COVID-19 due to territorial limitations. Moreover, senior analyst from the indicated bank, Robin Winkler, is sure that Scandinavian currencies such as the Norwegian and Swedish krona will be in favor, while global reflation strengthens.

Experts say that a fairly strong economic growth recently recorded in Norway will allow it to avoid another downturn. A potential reduction in economic activity was predicted in the winter of 2021, but the Norwegian economy is coping well with the current challenges, so difficulties are not expected. The second wave of the COVID-19 pandemic failed to destroy the Norwegian economy, unlike the larger European territories which are currently suffering. As a small state with an open economy, Norway is dealing with the coronavirus threat faster and easier.

The economic recovery of this northern country is supported by stable prices in energy markets. According to experts, this will allow Norway to hold out until an effective vaccine against COVID-19 is released. As a result, the country will be one of the first, along with Sweden, to receive collective immunity. If so, the Norwegian economy will gain an advantage over other European states.

Therefore, experts think that the current situation is favorable for the growth of the Norwegian krone. It is currently undervalued against the dollar by 25%, which is a high figure. Today, the USD/NOK pair is trading near the range of 9.0314-9.0315. The pair's dynamics are quite lively, and it is able to sharply rise at certain moments.

This image is no longer relevant

However, not all analysts are optimistic about the indicated currency. Commerzbanks' currency strategists are cautious about the possible growth of NOK. The bank agrees that the price of Norwegian krone may rise after the introduction of an effective vaccine against COVID-19. However, there is one problem: the uncertainty about the country's economic prospects, which limits the growth of the national currency. According to a macroeconomic report released last Tuesday, the Norwegian economy was able to recover in the third quarter of 2020, but this did not give its national currency a new impulse.

Moreover, the bank's analysts argued that NOK still remains vulnerable in the short-term planning range, but will be able to recover by the end of 2020. Its positive dynamics is supported by the rise in oil prices and relative stability in the world market.

Therefore, we can expect the Norwegian krone to continue rising in the first half of 2021, as there are a number of favorable factors that can turn to its advantage. Experts believe that this will be successful for the Scandinavian currency.

Larisa Kolesnikova,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
All Analytics
Fundamental analysis
Trump Keeps Hitting a Wall There's a saying: "An irresistible force meets an immovable object." It describes an irreconcilable standoff where neither side is willing to compromise. In my view, Trump's "scythe," with which
Chin Zhao
00:12 2025-06-24 +02:00
1465
Fundamental analysis
Should We Expect De-escalation in the Middle East? The market has absorbed the news of U.S. strikes on Iran's nuclear facilities quite resiliently. Why did this happen, and why was the reaction relatively muted? These questions are unlikely
Chin Zhao
00:12 2025-06-24 +02:00
1450
Breaking Forecast Trading Plan Cryptocurrencies USD/RUB Russian Economy Video Analysis
Trading Instruments
EURUSD GBPUSD USDCHF USDCAD USDJPY AUDUSD EURGBP EURJPY NZDUSD EURNZD Silver Gold #CL #USDX COVID-19 Bitcoin
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

Iran attacks exacerbate oil crisis: S&P 500 freezes ahead of key US data

US attacks on Iran raise concerns about oil, retaliation S&P 500 near February highs but showing signs of stagnation Rising oil prices raise concerns about inflation, Fed policy Investors look
Thomas Frank 12:44 2025-06-23 UTC+2

US Market News Digest for June 23

Geopolitical tensions weigh on markets Investors remain cautious amid escalating Middle East tensions, awaiting potential Iranian retaliation. While market reactions have been muted so far, further conflict escalation could trigger
Ekaterina Kiseleva 12:31 2025-06-23 UTC+2

Supply risks fuel oil, Asia gains, dollar stays afloat

Asian stock markets rise on Friday Oil hovers near 4-1/2-month peak on supply shock risks Dollar resilient on safe-haven demand despite mixed signals from Fed Swiss franc steady after
Thomas Frank 10:55 2025-06-20 UTC+2

Investors confused: data weak, policy hawkish, hopes pinned on bonds

Treasury yields pared earlier losses after Fed Chair Powell's remarks. Middle East tensions linger as Iranian leader rebuffs Trump's surrender demands. Swiss National Bank cuts rates to zero. Stora Enso
14:05 2025-06-19 UTC+2

Investors are confused: data is weak, policy is aggressive, hope is in bonds

Treasury yields pare previous losses after Fed Chairman Powell's speech Middle East concerns remain Iranian leader rejects Trump's demand for capitulation Swiss National Bank cuts interest rates to zero Stora
Thomas Frank 13:58 2025-06-19 UTC+2

Crypto market unaffected by Fed's policy decision. Bitcoin adamant to hit $205,000 by year end

Following yesterday's Federal Reserve meeting, where the central bank kept its benchmark rate unchanged, markets showed little reaction. Stock indices remained within their current ranges, and Bitcoin avoided sharp price
Larisa Kolesnikova 10:45 2025-06-19 UTC+2

Bitcoin still immune to geopolitical tensions, but military conflicts could rattle crypto market

According to analysts, the ongoing military conflict between Israel and Iran could have a significant impact on the digital asset space. In case of a negative outcome, the crypto market
Larisa Kolesnikova 14:08 2025-06-18 UTC+2

Futures trading with gains while markets in limbo. Market participants respond to Fed's signals and geopolitics

Futures contracts rise: Dow +0.21%, S&P 500 +0.28%, and Nasdaq +0.35%. Markets await Fed's policy decision. Swedish central bank cuts interest rate. Airbus lifts dividend target, boosting shares. Gerresheimer jumps
13:47 2025-06-18 UTC+2

Futures up as world on edge: Markets react to Fed cues, geopolitics

Futures up: Dow 0.21%, S&P 500 0.28%, Nasdaq 0.35% Fed policy decision expected; Sweden cuts interest rates Airbus raises dividend target, boosts shares Gerresheimer gains on potential takeover talks with
Thomas Frank 13:45 2025-06-18 UTC+2

US Market News Digest for June 17

Tensions in the US stock market are rising as the conflict between Israel and Iran intensifies. Analysts warn that a potential full-scale war could trigger a 20% drop
Ekaterina Kiseleva 13:25 2025-06-17 UTC+2

Top analytics

Relevance up to 05:00 UTC--5
What Will Powell Say?
00:12 2025-06-24
Fundamental analysis
Relevance up to 13:00 UTC--5
Trump Keeps Hitting a Wall
00:12 2025-06-24
Fundamental analysis
Relevance up to 06:00 2025-06-28 UTC--5
The Euro Gets a Knife in the Back
00:11 2025-06-24
Fundamental analysis
Relevance up to 11:00 UTC--5
EUR/USD Analysis on June 23, 2025
19:08 2025-06-23
Wave analysis
Relevance up to 13:00 UTC--5
Should We Expect De-escalation in the Middle East?
00:12 2025-06-24
Fundamental analysis
Can't speak right now?
Ask your question in the chat.
Widget callback
Callback widget
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.