The Norwegian krone lost ground against its US counterpart on Monday morning after the Statistics Norway report showed that the nation's industrial production declined in October.
The Industrial production dropped a seasonally adjusted 1.1% month-on-month, in contrast to the 1% rise in September. On a yearly basis, industrial output dropped a working day adjusted 4.9% in October. Manufacturing production dropped 5.3%, steeper than expectations for a 3.7% decline.
Norway's currency that slumped to a 10-day low of 5.7534 against the greenback around 4:00 am ET moved mostly in a sideways pattern thereafter. A trend below the 5.782 support may bring the domestic unit down to its lowest level in more than a month. The pair is presently trading at 5.7276, compared to last week's close of 5.687.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.