Norway Industrial Production/Manufacturing - Much better print leads to NOK Krona Rally

This morning on March 7th 2012 at 9:00 GMT (4:00 EST) the Industrial Production and Manufacturing figures were released from Norway. It was an improvement on last month's release and the EURNOK sold off in Krona strength.

Here is the data:

Norway Ind Prod Manufacturing SA MoM
Estimates -> Median: +0.4% Average: +0.4% Low: -0.2% High: +1.0%
Actual: +1.1% Prior: -0.3% Revised: -0.2%

Norway Ind Prod Manufacturing WDA YoY
Estimates -> Median: +0.8% Average: +0.7% Low: +0.3% High: +1.1%
Actual: +1.7% Prior: +0.6% Revised: +0.7%

Norway Industrial Production SA MoM
Actual: +4.5% Prior: -2.2%

Norway Industrial Prod, WDAJ YOY
Actual: +3.0% Prior: -4.9%

Here is the 1 minute chart of the EURNOK forex pair showing the immediate price reaction to the news release:

This is the 5 minute chart of the EURNOK forex pair, which shows it did continue to sell off from some time.