Norway Retail Sales - Yesterday Sweden today Norway...wow for Scandinavian Data!!!

Another whopper news trading spike this time coming from Norway. This Friday morning at 9:00 GMT (4:00 EST) the Retail Sales figures were released. There was a decent sized deviation, and while larger deviations in the past have had more modest moves and reversed, this one did continue for quite awhile. Perhaps it is because the EURNOK forex pair is off its extreme lows and has retraced giving the Norwegian Krona room to appreciate versus the Euro.

Anyway here is the data:

Norway Retail Sales - vol sa (MoM)
Estimates- Median: -0.2% Average: -0.1% Low: -1.0% High: +0.6%
Actual: +1.1% Prior: +0.9% No Revision

Norway Retail Sales Vol. nsa. (YoY)
Estimates- Median: +2.7% Average: +3.0% Low: +1.8% High: +4.8%
Actual: +7.4% Prior: +6.7% No Revision

Here is the 10 second chart of the EURNOK forex pair:

This 1 minute chart shows how the move continued for some time and gave many pullbacks which were easy opportunities to scalp additional shorts in the direction of the momentum flow caused by the news.

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.

Norwegian CPI lower - leading to small pop in EURNOK

CPI figures are not the best to trade in this type of environment with alot of market uncertainty meaning inflation is unlikely to make central banks adjust interest rates, as they instead keep them very low to help stimulate the market...

on December 14th the Norge Bank cut rates more than expected by 0.5% or 50 basis points (bps) to 1.75%, this lower inflation figure now shows us why they were able to and it could mean they have more room to cut in the future if they need to. EURNOK rallied a bit as the Norwegian Krona weakened as a result. Not a huge move but good to keep our eyes open.

Here the figures:

Norway CPU (MoM)
Estimates: Median +0.3% Average +0.3% Range -0.5% to +0.7%
Acutal: +0.1% Prior: 0.0% No Revisions
Norway CPI (YoY)
Estimates: Median +0.5% Average +0.4% Range -0.4% to +0.8%
Actual: +0.2% Prior: +1.2% No Revisions
Norway Underlying (MoM)
Estimates: Median +0.2% Average +0.2% Range -0.3% to +0.4%
Actual: +0.2% Prior: -0.2% No Revisions
Norway Underlying (YoY)
Estimates: Median +1.0% Average +1.0% Range +0.5% to +1.2%
Actual: +1.0% Prior: +1.0% No Revisions
Norway Producer Prices incl.Oil (MoM)
Estimates: Median +0.3% Average +0.2% Range -0.4% to +0.8%
Actual: +0.2% Prior: +1.4% No Revisions
Norway Producer Prices incl.Oil (YoY)
Actual: +8.2% Prior: +12.9% No Revisions


The first chart is the 10 second chart of EURSEK:

and the 1 minute of the same pair:

Norwegian Retail Sales and Industrial Production - mixed reading EURNOK trends slowly down

Industrial Production was higher but Retail Sales was lower. There were 6 data points in total which were quite mixed, so it a bit confusing and with NFP ahead not really a trade work the risk. Despite this its included on this blog for reference.

Here is the data:
Norway Ind Production SA MoM
Estimates: Median -0.1% Average +0.4% Range -0.5% to +2.4%
Actual: +0.2% Prior: -0.8%
Norway Ind Prodcution WDA YoY
Actual: +0.4% Prior: +0.7%
Norway Industrial Prod. WDAJ YOY
Actual: -1.2% Prior: -5.7%
Norway Industrial Production SA MoM
Actual: +1.2% Prior: -1.8%

Norway Retail Sales - vol sa (MoM)
Estimates: Median +0.3% Average +0.2% Range -0.4% to +0.6%
Actual: +0.1% Prior: +0.7% No Revisions
Norway Retail Sales Vol. nsa. (YoY)
Actual: +0.9% Prior: +1.2% No Revisions

Here is a 5 min chart of the EURNOK:

and here is a 15 minute chart of EURNOK which shows how the move on the pair started to trend lower from the asian session thru the european and american sessions into the close of the week:

Norwegian Interest Rates - Cut more than expected

Out of the 17 Analysts polled by bloomberg, 5 expected the Norge Bank to hold rates
steady at 2.25%, 2 analysts expected a full 0.5% cut, and the remaining 10 expected
just a 0.25% cut. They cut a full 50 basis points (bps) and the Norwegian Krona
rallied. Here are the 5 second charts of EURNOK and USDNOK:

Also a 1 min chart

Norwegian PMI - One for the Books

This Wednesday Dec 1st 2010 at 8am EST (3am EST) the Norwegian PMI figures were release.  PMI figures from several nations were released.  This entry is just to note the move that occurred from this Norwegian figures for future reference.  Here is the data:


NORWAY NOV PMI: 56.0 V 54.0E
- Prior revised higher from 54.2 to 54.4